Been a slow start for me getting going posting but have been hedging as we get closer to the Fed meeting on Wednesday which is going to be very telling with the debate between a 25 and 50 cut. Then we have the election and then year end. Going to be exciting and not sure I want to be in the market day trading as we also have a quad witch expiration cycle this coming Friday which could also be exciting as numbers indicate it should be a down cycle which would mean this should be a down week overall or down just a little. Personally I'm hoping we see another up cycle in the end as it will make for a very interesting October cycle. Volatility is going to kick up huge on Wednesday I'm sure and the big question will be the reactions as d's points with those charts is very interesting. Anyhow, added quite a bit to my short trade Friday and after the open yesterday bringing average up to 5684 and even though dealing with a grand kid was able to close it just before the cash open with a 2 point profit. Have placed another short now though that I don't like after missing my long on the ndx but I don't chase so just a average short at 5694.
IS THE FED BEHIND THE CURVE?
#12
-
- Traders-Talk User
- 13,867 posts
Member
Posted 16 September 2024 - 09:26 AM
Out for a 4 point profit at 5690 will maybe sell higher.....
#13
-
- Traders-Talk User
- 13,867 posts
Member
Posted 16 September 2024 - 09:35 AM
Rats should have held on for a few more minutes. Nonetheless got my ndx long at 19550
#14
-
- Traders-Talk User
- 13,867 posts
Member
Posted 16 September 2024 - 09:37 AM
profit stop 19560
#15
-
- Traders-Talk User
- 13,867 posts
Member
Posted 16 September 2024 - 09:40 AM
out for 10 point profits, would like lower now but as I say I'm skittish to hang onto trades to long....
#16
-
- Traders-Talk User
- 13,867 posts
Member
Posted 16 September 2024 - 10:05 AM
back in with a ndx long at 19540, profit stop as I type at 19545
#17
-
- Traders-Talk User
- 13,867 posts
Member
Posted 16 September 2024 - 10:16 AM
profit stop 19575
#18
-
- Traders-Talk User
- 13,867 posts
Member
Posted 16 September 2024 - 10:21 AM
profit stop 19600
#19
-
- Traders-Talk User
- 3,237 posts
Member
Posted 16 September 2024 - 10:27 AM
Other than consumer slowing I don't see anything else that requires a 1/2 point drop. We still have elevated inflation and consumers have not fallen off the edge of the cliff as of yet. Yes phone and computer sales have indeed plummeted, which is an indication that people continue to struggle. On the other side home sales, and car sales have been moderating. Labor market also continues to weaken. Since inflation is half the battle, we are still losing we go a quarter point.
#20
-
- Traders-Talk User
- 13,867 posts
Member
Posted 16 September 2024 - 10:46 AM
out doing recycling lol!! Totally agree but the Fed the last few years have acted strangely. Out for a 60 point profit btw, hopefully get back in lower to start all over again
