My trail stop in the NQ was hit early after hours yesterday for a triple digit win. Now we’re back testing the same levels, even breaching them in some instances.
Foreign markets are now starting to trade back into and test late August prices, and this is last of the “global inflection points” we’ve been watching for the last couple months.
I am going to have to watch the mayhem from the road today as I have some important things I have to attend to. Going into next week, I plan on focusing only on playing intra-day moves like we did yesterday. Get a trade on, eliminate risk by getting a stop to at least breakeven, and focusing on only a few products to trade until the range sorts out.
OA
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Recession. Nasty times are ahead but realistically, this should have happened last year.
20T debt
50M on govt assistance
90M unemployed
Fed raises rates for some unknown reason based on whatever.
After 7 years ZeroHedge is finally right
What’s your main data point that suggests were already there? It’s a close call from what I see.
If it takes 7 years, are they really right?
+1000
I think that was meant to be read as sarcasm.
Still wonder when is the last time everyone is correct about recession?
hmm – this might hurt a little more than expected
Bot starter position in UGA. Gasoline futures.
This feels pretty calm. Buy it
Haha. That’s what scares me
ya but you are a whiny little bitch
Yeh and ur a pathetic little cunt
Anyone buying the open?
My pre-programmed buy alert prices have been set in BAC, FB, AAPL, DIS and CRM in stocks, as well as IAT and SPY in ETFs. I might just buy 1/4 positions in BAC, IAT and FB today. I bought Apr ITM calls on BAC, FB and AAPL on Wednesday.
Bought the 188 SPY call that expires today with some chump change. Lets see what happens.
Ugh, perfect pain trade for everyone who bought in or didn’t get out of longs yesterday, so if that’s right, gap and go Tues leaving everyone who didn’t want to hold over the weekend for a bit of relief rally. Or we open the week with a flash crash to start a move straight to hell.
A nice weekly doji candle would be the perfect way to screw everyone, i.e. pick a side on the coin flip or sit out and wait, but could at least be constructive for a rally.
But seriously, F this market lately, don’t even want to hold things overnight in the LT account anymore. Every day is a crapshoot on which was we gap
My 78-year dad just texted me to see if he should buy stocks. It’s more of an inside joke, but I told him to buy biotech and IPOs. Both of his parents lived to be over 96, so he thinks he has time.
Lightened up on my /NG short by selling some DGAZ @ 15.57.
Bot very small TBT 40.45
Well, we certainly learned a lot about the market this week, didn’t we?
What if this is more like 2011 than 2008? Maybe we just crash through oversold, get everyone thinking another 2008 is here and then the mother of all rallies
How long can we keep saying that tho
My YOLO plan isn’t working so far.
With the markets down this much, wonder if we get margin calls…yesterday afternoon was not fun
Pressing my oil short. Bot more SCO 201.75. Looking for the March /CL to break 30 today.
IMHO we need more panic to bottom. That should help. (Sub 30 March contract oil)
Only Intervention will change my mind.
There is no speed though….concerning if this does start to get fast into the close
Hebrew calendar. VIX spike on new moon like the first score on a college ball game. I am shitfuck wasted partying right now. How many bottles of Amontillado can a kid drink before TVIX hits 11?
My girl gets sapphires, and your women get sad excuses.
I love this blog almost as much as I love getting wasted. I know nobody cares I just like seeing my own posts. IDIOTS. IDIOTS.
Lol. Still, nobody cares.
l’chaim
OA, or anyone, regarding LABU – it doesn’t run into the same monthly rollover issues as say UGAZ or UWTI, correct? So it is considered “safer” holding. If I wanted to hold for a year for instance it would just be subject to the market and fund expenses, nothing else? Thanks.
long NQ 4082
Go get um. You tip-toeing or going large?
need to see more before holding but I will see how this level holds up and how we close.
Out 4105 + 23 Quick and dirty!
this area is good support but that may mean nothing at this point. Worth keeping an eye on though.
bought copper futures here 1.9445. Lets see what she’s got. Might try and hold this one if closes OK
I’m back in the NQ on that mini pullback. FWIW
Chief, appreciate that you are posting some/all of your trades today.
gluck chief.
Sounds most people are scared of the 3 day weekend but if we don’t crash and burn into the close it could mean someone knows something is coming out this weekend?!
That’s the last post….sorry for clogging up the chat.
Fed announced QE 4 pre-market Tuesday and markets rip higher. I’m calling it.
No surprise seeing casinos up today. The market casino is no fun anymore. Might as well play craps. At least in craps there aren’t any robots in the dice that make them roll in just such a way to fuck with your brain the most (they give you free drinks for that).
@gasman, $AR is up almost 4% today. It certainly hasn’t fared well over the last 6 months, but if you can find a stock that goes up 4% when crude is down 6%, I tip my cap to you.
sold both copper and NQ. Just not enough strength here. This could get nasty. Buyers need to show up or the last hour could be a horror show.
Hoping everyone did their long weekend selling/hedging, etc. early and are at happy hour right now drinking away their sorrows.
recent history says last hour IS when the real buyers show up..
Some bottom fishers in action.. RL, RH and DECK are green.
This may be my bias but there ARE stocks that aren’t putting in new lows… Some of them even of the commodity variety like SLCA and FCX. LULU looks good here. CALM was up 9% (why I’m not sure but I saw something very green)
Closed my eyes and bought a little more $FCX. It’s now a full sized position for my, “you can go to $0 if you have to and I won’t be a bitch about it” tolerance.
I like Freeport. I just don’t think they are going to zero. On the other hand I thought oil couldn’t go to zero but at this rate it might be there next Thursday.
very nervous traders out there. This close doesn’t help anyone, best to wait and see how things look Sunday night and Tuesday before making any decisions.
bio and small both keeping it togther
Yeh noticed that. Going long still dodgy proposition but that’s a good sign. Wouldn’t be surprised to see a bounce from those two
Added more SPY at close to put me at 130% long.
Why would you go margin in this environment? Sometimes the best trade is no trade. You’re just gambling.
Entered the weekend
More short oil
Less short Natgas
Left my hedges intact for my short bond, long Russell trade.
Went long IWM at close Friday based on the reversal candle. Treasury yields also printed a promising spike low.
Nice play. Seems like this caught many off guard so will not be taking full advantage of the big rally Tuesday
$STRZA falling wedge into an area of balance, market oversold – worth a bounce?
Well that rally was fun
Bear market. 2008 analogue
Fed the ducks some SCO at 207.34. A little less short.
Sold all my DUST at 20.05 which was a hedge against long standing GDX position.
May add both back based on the close.
Sold some TZA at 63.50. These last three transactions are more a function of what price they were at at a particular time of day.
O/N trade XOP at 29.46. Why? OVX is going up (volatiliy) while the /CL March contract is holding over 30. 3% stop
keep ending back with long utilities, XLU.
-sprinkled with GLD & SLW longs, short FB
Time for a new thread. Tired of looking at that clown.