What you saw today was classic oversold pattern caused by fear and forced liquidations turn into greed and a rout for overzealous shorts. The feeling of doom is contagious and it’s easy to believe in more downside. But when things get dicey like this it’s important to NEVER SHORT and only buy. If you were on edge it was only because you were too exposed.
We traded like gentlemen scholars inside Stocklabs today, full cocktail attire with tux, top hats, canes, and monocles were mandatory inside our halls as we traded out from deep crevasses and into success. At the lows of the session, I was down less than 2% and I closed +3.5%, with roughly 42% cash for more buying tomorrow. My algo account based on our mean reversion signals was up nearly 7%. We bore witness to a short oversold rally and now everyone is wondering what will happen next.
SIR.
Greed will happen next and panic buying, especially if the Russian crisis is resolved with only giving up HALF of Ukraine.
We trade without emotion and we do not get chopped. Tonight we shall celebrate over bottles of Champagne and gratuitous carbs, marking the day when people looked into the abyss and decided to dive in. We did not and now we’re flying high and nothing can stop us — you fucking faggots (no offense to my large gay readership).
NOTE: For a limited time we are accepting free trials inside Stocklabs, cancel at any time.
If you enjoy the content at iBankCoin, please follow us on Twitter
(Macho Man Savage voice): “Oh YEAH!”
All hail the Biden Bounce?
Insert South Park cartoon here.
… and… it’s gone.
https://www.youtube.com/watch?v=-DT7bX-B1Mg
Australian CPI numbers just reported. Higher than expected. No topping in the land down under.
Wow, futures…
We really aren’t getting a relief rally yet. Are we?
Well, that dead cat didn’t bounce very high.
Back to cash and wait for the next oversold dead cat bounce.
I am uncomfortable with both sides. I bought SQ puts at the close and I’ll probably sell first thing. Happy to have any winner in this mess.