This was close enough to the lower end of the developing range we’ve been following.
Last week we wanted to buy a gap that failed. I managed to pick up Russell futures at 1030 yesterday and sold them for a nice gain this morning.
If buyers show up, I’ll dip my toe into some quality: $DIS, $GS, $V. Let’s see if we find buyers or not.
OA
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No buyers. Oils still in free fall.
Wow. Sune. Nice one
Wow. Is today the day it goes to 0???
Nope, they ain’t buying this, as usual in a bear market
add some value or stfu
Sell everything. Don’t be pissed cuz you didn’t sell this morning.
markets been open for 80 minutes and i’m already bored
Agree. IBC needs to add a blog on sports, porn or something..
Regrettably I did not buy the dip in SCO. Thus I am offering some SCO at 96.10. That would be sub 30.
Also did not buy TZA,DUST,&DGAZ. Thus I am looking to buy Dios in these later today.
I do not believe I’ll see dips in the above!
You are correct
…..and fade the bounce wins again! This is going to get ugly remainder of the week. Can ya taste it?
Sentiment seems to be right where you’d want it for a ramp.
Sold $LULU as it hit my $60 target, and also needed to feel what it was like to sell a gain in this misery.
My AAPL, GOOGL, & AMZN are still green. We have seen this playback before: big cap leaders tues, middle of the road wed, trash thurs.
Still haven’t hit my 196.10 offer on SCO
OA, I’ve got a quick question for you. What do you mean by you want to buy a gap that fails? More precisely, would you look to start positions once the market goes into the red, after the gap is filled (in a downward motion), or after the market recovers and begins to go back up after it has gone red? Hope this question makes sense; appreciate the response in advance!
Yesterday, the market gapped up. Rather than buy up into the gap, I bought the fade later in the day.
Makes sense, thanks for clearing that up and providing an example.
You doing the same today?
if you’re in the bull camp these lows are extremely important. If we cannot hold these lows now it wouldn’t surprise me to see over the next few days one of the biggest sells we’ve experienced in years. Something like -1000 dow points etc….basically a complete washout.
That is precisely what is set up. Ticking time bomb here. Smart money faded the gap higher. Easy trade, really when basing the trade on direction of oil. There was a huge divergence. Stop just above high of today in the Q’s
Put options expiring Friday for the win. OTM