Markets have recovered sharply off the lows. Fuck all of that. I wouldn’t buy this rip with my neighbors lotto money. It’s very nice to see stocks rebound. After all, we’re oversold. But that doesn’t mean shit for tomorrow or the day after. I’m just trying to survive the great market calamity of 2018. Once we bottom, they’ll be plenty of time to get in.
Here’s some data for you.
1,300+ stocks at or near their 52 week lows.
Here are some prominent names starring on the list.
FB, BAC, GS, WFC, CVX, BUD, TM, IBM, MMM, ABEV, TXN, BIDU, MS, ASML, KFC, LFC, BLK, RIO, UBS, SCHW, GD, CL, FDX, JD, ABB, MU, MET, HOG, YY, and on and on it goes.
But I’m sure there’s a bull market somewhere.
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Went flat on the /ES long @ 2751. I’m grateful.
In the next 50 hours there will be some very good long scalp opportunities in /ES and even /CL, which dropped bigly and hasn’t managed to bounce yet.
Volatility is awesome as long as the math is done right.
This market drop is bullshit and deed down inside we all know it.