These are my least favorite tapes, big gap ups on oversold bounces luring traders into a meat grinder of a RAPE TAPE only to draw down as the opening ebullience drifts and fades and the collapses.
The Dow shot higher by more than 600 today, but all of the gains were had and enjoyed by 10am. For everything BUT old man stocks, the market was LOWER from 10am — meaning if you chased like I did — you lost coin.
In amazing fuckery fashion, I took a +75bps gain and turned it into a -50bps loss — as predicted. I was forced to heavily hedge into the close in order to maintain equanimity into tomorrow.
Here are some intra-day stats for you to digest.
Healthcare +0.9%, DOWN 3.4% off session highs
Tech +1.2%, DOWN 2.4% off session highs.
Getting more specific
Crypto miners +3.7%, DOWN 7% off session highs.
Energy stocks +3.6%, DOWN 3.1% off session highs.
Meaning: if you bought and held you pared down some gains. But if you stepped in after the morning bump hoping for more — you were executed.
This is how people get hooked. If you bought today and didn’t hedge, you are now exposed to a potential -3% day.
BEAR MARKET TRADING.
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Manipulation or market personality? But it is indeed fascinating. The game in play or just more info coming to the table during the day?
Simple 3dayweekend Sunday night CB priming which they carried over to Monday night
+250 dow futs sunday
+450 dow futs monday
Msm reports investors eager to buy for the start of a new week following Friday’s drop
No CBs primed it you stupid fucking fucks
The MO however always consistent is short term or long term jamming, toying shorts
Thus tonight’s watch-it-fall may wholly likely be not unintentional, rather than just …..
BEAR MARKET UPS AND DOWNS