Whether you’re bullish or bearish the prevailing and indisputable trend for 2020 has been to close out overnight trades in the morning and reapply them near the close. Even during the worst spates, it is rare to see markets down more than 3 consecutive days. If we gap down tomorrow, I’ll be closing out my shorts. I might hold onto my gold — because hedging, and if we head into 3:30pm down more than 500, I will likely go long.
The allure of getting short into tomorrow’s dip will be immense and we might be heading much lower; but these things work their way lower in increments. Unless we get a massive catalyst to the downside, such as no drug can beat COVID-19 and we are not going to open up the economy until August, I suspect we will consolidate recent gains until the economy reopens and then people realize how fucked we truly are — sending stocks back to the lows.
Futures are off 275, Nasdaq -75 with gains in gold and stark losses in WTI. I am not going to get excited about my prospects until 6am, since these overnight moves are suspect.
If you enjoy the content at iBankCoin, please follow us on Twitter
Excellent advice!
Ok these murder hornets are the last straw for me. Turning bearish.
The miracle drug is Prednisone at 20 cents per dose versus Remdesivir at $1000 per dose.
https://www.evms.edu/media/evms_public/departments/internal_medicine/EVMS_Critical_Care_COVID-19_Protocol.pdf
I had a moderate allergic reaction to bee stings a year ago (tongue and throat swelling). Steroid shot and Prednisone took care of it. Allergic reactions are similar to a cytokine storm where your immune system over-reacts. Epi pen costs $300 out of pocket.
I should have added, my dad has taken Prednisone for 40 over years for Rhuematoid Arthritis.
The clip art on the first page was inspiring. If I’m ever COVID-positive, I hope my treatment management comes from a place that gets their info from a better source than my third-grader’s book report.
Eat shit asshole. You have been mislead. We have 1 death, 200 cases where I live and 160,000 population. My dad is 81 and has been in the hospital twice for mini-strokes over the past 6 weeks. I’ve worn a mask for the past month to get groceries(done with that). They ‘order’ us remain shut down for another couple of weeks. It is a waste. This shit will be back in the fall/winter if it follows traditional patterns. NYC will be the epicenter again. Most of the US is not densely populated like NYC. People won’t put up with it much longer.
They donated the whole batch
I combined several comments that I left earlier tonight in a prior post in one piece:
I remember someone (peaches?) asked me about how my scalps work a few days ago, and whether to use his scholarship to study engineering or something else. I didn’t have time to reply but I do now, so here are my thoughts:
The basis of most of my algos is similar to Kinlay’s stuff:
http://jonathankinlay.com/2018/09/the-mathematics-of-scalping/
Here’s a short bio of Kinlay:
https://www.wikiwand.com/en/Jonathan_Kinlay
So you should at least study for a math minor if you want to be able to understand how things are done. (I use much more actuarial and engineering math than Kinlay; he does more econometrics.)
I still tweak my work often but the main framework is quite optimized. Here I include the first 3 hours (Sunday 6PM to 9PM) of all of my automated trades, which produced near $6000 of gains on roughly $10000 maximum drawdown–I frankly don’t think Kinlay’s products work nearly as well:
https://www.scribd.com/document/459722649/05032020-Updated
If you employ only a “$10,000 maximum drawdown” you shouldn’t be fucking
around trading stocks. You should be doing something to earn REAL money.
Like mowing lawns or selling tee shirts.
Who are you to tell him how to play the game?
He’s a Georgia inbred, cut him some slack
I could have set the maximum drawdown to $100000 and fetched quite a lot more in 3 hours, but not $60000 because the markets aren’t that “deep” on Sunday nights–especially not for forex futures.
You’re just really ignorant about how “REAL money” is made.
I could have set the maximum drawdown to $100000 (which I often go beyond during the regular hours) and fetched quite a lot more in the first 3 hours last night, but not producing 10 times the profits because for the simple fact that the markets aren’t that “deep” on Sunday nights–especially not for forex futures.
One thing I know for sure: I did and do way better than you.
It’s cute that you thought this was info was worth enough to be reposted.
Yes, it’s way more informative than most comments on here.
Don’t listen to this jive talking jiggaboo.
Cool. As long as the reader has, as you do, the pychoflexibility to get back in position if he gets gapped a la 10/6/08.
Spent my morning watching Bach, 3am-5am. Wow. He says go long