126 replies to this topic

[dTraderB]

The markets can be regarded as a perpetual PONZI SCHEME:
WSJ: This Day in Markets
📈 On this day in 1920, Charles Ponzi was arrested in Boston for fraud. He repaid each $1,000 invested with $1,500 just 90 days later, but only by taking more money from newcomers, or, as a judge later put it, "robbing Peter to pay Paul."
📬 Read more about Ponzi and other shocking misdeeds by signing up for the Journals email series 7 Financial Crimes that Rocked the U.S.

[dTraderB]

Closed 5382.75

Es sell limit 5388

[12SPX]

WSJ: "Investors Borrowed Like Crazy During the Rally. Theyre Paying the Price.
By Gregory Zuckerman, Jack Pitcher, Vicky Ge Huang and David Uberti

Illustration: Johnny Simon/WSJ, Getty Images, Reuters, Zuma Press

They built over months: big bets on the Japanese yen. Complex cryptocurrency wagers. Investments in hot tech companies.

Common to all the trades were heavy doses of leverage, or borrowed money, which investors used to amplify expected gains. As markets rose through the first half of 2024, the investments generated windfall profits, inspiring copycat traders to get on board and pushing prices higher.

The tide has turned. Unrest has returned to global markets over the past month, and investors are in retreat from these once-unstoppable trades. While the market has calmed in recent days and the Dow industrials remain within 5% of their record high, traders caution that there is reason to brace for more upheaval.

Whats behind the tumult? Recent losses were caused in large part by a deleveraging, said Andy Constan, chief executive of Damped Spring Advisors, a consultant for macro hedge funds."

Well isn't that not surprising lol!!  The market did have that pyramid scheme rising so much in 6 months instead of stair stepping its way up within a healthy market.  I still feel that's what were going to see into year end but now likely very volatile at least into the election.  I have my average short now up to 5373 this morning and we'll l see how the cash market goes.  Kind of tired today from a weekend Padel tournament so might just fade away and wait till the action really starts with inflation data tomorrow!! 

[12SPX]

Profit stop 5369, sell above

[dTraderB]

Closed 18585.75

Nq short 18660

[12SPX]

profit stop 5365

[dTraderB]

Close es short 5358.5
Holding short 2 nq, 1 es

[12SPX]

I know crazy but long ndx at 18550, profit stop es 5360

[12SPX]

Out for a 13 poiint profit and profit stop 18560

[12SPX]

profit stop 18575 and out for 25 points as I type lol!