I initiated a short position on IWM about a month ago. If you are planning on going short here don’t bother. We are likley going to have a tradable bottom this week. The rally from this low is key. If the rally fails or we go to an exhaustion high yet again then I beleive it will be essentially game over. Look to cover shorts soon and go long for a trade. Today I am doing nothing but counting cash.
Let me be clear. This is a very dangerous time. My bias is short. In the counter trend rally and confirmation of failure I may go all in short. Currently I am mostly cash.
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Like it mate.
Selling short term AUDUSD puts for a bounce.
Hedge it with some short BABA.
we are on the same page. covered all shorts this morning and rolled into some biotech and oil longs (all large cap)
Fryguy15,
I am thinking wednesday or thursday for low. Maybe we saw it today. But I think we need to scare some more people first.
will the russell be your vehicle for the long?
matt_bear,
Yes. but it will be a quick trade to get massively short again.
the tell of the tape so far has that gap down opening being it.
matt_bear
maybe but too easy. need to hurt more folks. the character of the market is changing. look to the credit markets. not good.
All of this Comes Down to One Moment in the Short Term, Will ECB be able to pull another Rabbit out of the Hat on Thursday. I always say NO WAY, and I am always wrong. But at some point the Rabbits will be all gone. FWIW, we continue this sweet Bear Sell off until the moment he speaks, and then it’s a coin flip depending on what he says. Central Bankers have too much Power which isn’t good at all.
If we are going down, why even bounce (which let’s people out and you in). Why not just waterfall down
eric,
waterfalls are coming. just not yet. structure is not right. markets don’t go down in straight lines.
Well played.
BlueStar, still looking for a tradable low in here? thx.
OA,
Thanks.
Thomas,
I have not covered yet. Low soon. I may miss it by a day.
Thx. Blue. I was looking for low too, but today is making me nervous we just go down. So much leverage out there. Economic prints starting to roll everywhere. Ford earnings a shot across the bow.