As we’ve walked step by step through this process, there are two final conditions waiting to be met, one of which will trigger today.
I like to use the $TICK to look for extremes. The last extreme we saw was Fed day, which was an extreme we have only seen twice in the last 10 years. That extreme in a corrective process, specifically at/near the lows will show an initiative buyer. While we’ve seen all other conditions that engage these buyers, they wait for shit-show moments like today to get the best bang for their buck.
Take a deep breath and follow all the same metrics we’ve used this week. That will tell the overall story.
If you enjoy the content at iBankCoin, please follow us on Twitter
‘morning bro .
hope everyone ok today .
Don’t you wish you had skin in this game?
no bro , i think yesterday was the exact day I’d told my want-to-be broker son ” do not trade today” ..
imo the yellens want badly the market crash badly 1 day to get that in-famous support checked ..then to get back on ..instead to lure everyone in a very long period of correction ..but fast crash seems not an option anymore , still
Why not bet on it?
because my trading too soft.. I really don’t like to loose big sums and prefer to do little by little , by strategy ; yesterday @ close my strategy was sure thing to be off the environment
think of it jeff, if we climb back a while there’s no way we’re going to new highs and resume a bull market ..even though i sure understand that the last period of enthusiasm may happen for some reason that you mention; there’s little interest in buyin – real buy – this market to the tops , by both trading algos and big bank firms
The last leg is used to draw in your want-to-be-broker son and his friends. That’s when you crash markets.
i don’t know .. i know there’s some support to check . . way down .. to resume the trend later .. and that an eventual upside from here ( ie an end of year blowup rally ) will likely have short legs , which is the reason i somewhat may miss it without feeling so bad ..
Wicked little drop on USD/JPY to sucker people again. The post picture is perfect – you need a helluva lot of armor for this market. Hope any talk of a “2014/2015 analogue” happens so far in the future that its past my expiration date.
Added to FIT NOV 50s
buyin lil more xgti today
$CTRP !!!
China names all green.
any thoughts why?
They’ve been green each day post Fed. Must say what they think of rates.
http://www.bloomberg.com/news/articles/2015-10-02/chinese-shares-in-hong-kong-advance-on-property-market-support
Feels like the wall of worry climb ascent is about to commence.
Stocks are diverging from the averages right now
Seems simple at this point. Hold off buying /shorting until we either break Tuesday’s low or yesterday’s high. Can’t out think robots.
Congrats to Chief on TLT
price action across some index speak fear today , at the moment it doesn’t look exactly “we go there checkin august”
Biotech holding strong … Liking the chances of another major reversal out of here. Perhaps this is the time initiative buyer appears.
$IBB and FANG all holding yesterdays low.
Ibb almost green
Guess everyone’s gonna get their wish of testing lows
Financial sector getting slugged in the guts.
you will see that in the event that the market needs to go down fast a day , a financial firm or similar will blow up on bad news ..wouldn’t be surprised to see a big name prosecuted..
Schwab / Ameritrade -7%
If we are going to sweep the leg, we still have a good ways to go.
USD/JPY
3-D stocks mostly green here too…. $XONE taking the lead
if 4120 doesn’t hold in the NQ we will test Tuesday’s lows.
XIV being really good to me today!
sweet sweet XIV, made $1.8k so far. perhaps i should go back to sleep now
Yay!
I’m surprisingly now up on the day. I got fully loaded on this dip today with all old man stocks (added QCOM, WMT to existing positions and have IBM as well) and some AMAG.
Now it’s time for a some good old fashioned hope.
DIVERGENCES. “Next move down would be market only,” right?
This is insane
Some of this biotechs with good earnings are holding up well today like SCMP and AMAG. Could all be an illusion but so far so good.
*these biotechs… english*
My whole strategy coming into this leg down was to start buying up stocks of companies that had revenues and/or earnings rise during 08/09. That was the worst recession we will probably see for another 20+ years and if they did well then then they should do well in this recession.
No idea how it will pan out and if I’ll be holding these for that long.
Apparently lots of demand for burritos in a world ending scenario.
BIDU and WYNN amongst others ripping higher today. News out that China is going to support Macau. Could all just be a temporary reprieve but interesting development nonetheless
Ya $MPEL ripping as well.
I know you guys don’t follow these old man stocks much but QCOM is about as cheap as it gets. Probably means it goes lower. $25 Billion in net cash vs $83 Billion market cap (ie 30% cash), with $7Billion in free cash flow and a 3.6% dividend, as well as an activist calling for a breakup of the company and return of cash to shareholders.
Can Samsung pull a 2012 on APPL? Then QCOM will be the bomb….. as in good…