It’s pointless to give trade ideas tonight given the action in the futures market. As it looks now, just about everything will gap higher and you will be forced with a question– to chase? or not to chase?
Given the run we just had, I’m incline to say this move is faded. However, I guess anything can happen at this point. I’m curious to see what you guys think? Does the strength carry on throughout the day, or do traders fade the opening gap?
Feel free to discuss.
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The most hated sector in recent memory could finally have a real bear market rally. PM miners. The tape via SPY is on a trip that makes no sense in this corner.
Shanghai market taking off tonight. I think that market is finally ready to run.
My guess is there will be initial fade and generally a lot of chop to shake out both longs and shorts and then another trend higher would be established for the next few weeks
catalyst for a rally and a slow typical august grind up on low volumes. business as usual, glad I bought TSLA yesterday.
Momma’s got a squeeze box.
I think we’ll get a better sense of direction Friday. I want to see how the market behaves going into the weekend.
close off the highs, wash rinse repeat – those that doubt this will continue, continue to get burned or simply miss the move. Definitely looks like two steps forward and one back on any quality chart. My buy and hold portfolio is far exceeds the gains in my trading acct. Positions that i sold for a small gain have moved ahead without me looking back laughing.
rigged casino
Then be the casino
I’m already all in (TSLA, SCTY ((I live and work in SF and talk with these guys all the time)), CLIR and some pink sheets that are long term speculative holds)) but I’ve been a buyer on dips and have given up on my weekly habit of buying SDS on Fridays and covering on Mondays. I kept thinking the bad news from around the world would hit the markets but the markets just keep shrugging it off.
I’ve raised my (mental) stops and have a clear target on CLIR so until any of those hit, I’m just going to sit back and enjoy the ride.
Thanks for the comments guys.
Good luck today.