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+19.2k, been fun :thumbup:

Keeping the individual shorts on, but I'm done on the futures for now... Think there is a lot more pain to be felt, but I killed it today and don't need to be greedy. 

 
This guy is amazing.

From 5:560 this morning:

It's been a great rally so far in $spx and my second target of 3130 is next above. The reason we melted down last week is because we broke down the bull channel from 2018's low at 3130. Looking for a rejection there - if it fails to selloff fairly quickly, new ATHs are coming.

We hit 3137.

From 11:30 this morning.

Today is a volatile and its where we close that matters. We're following the path from my chart perfectly - rally to 3130 and then a 100 point drop. If you draw a trendline from Friday's low it sits at 2977- That's the gate to new lows & this doesnt confirm bearish until it fails.

We just hit 2981 and bounced off of it. Will be interesting to see if it closes right around that level.

 
This is rapidly becoming my fave thread in the FFA. 

Dumped to cash at open. Got stupid lucky on a grab of SPY off the floor on 2/28 that ran up nicely to this am.
 

I'm not nearly lucky enough to do that again so I'm Sidelines for a while... or until you ##### talk me into something. 

 
lod001 said:
This guy is amazing.

From 5:560 this morning:

It's been a great rally so far in $spx and my second target of 3130 is next above. The reason we melted down last week is because we broke down the bull channel from 2018's low at 3130. Looking for a rejection there - if it fails to selloff fairly quickly, new ATHs are coming.

We hit 3137.

From 11:30 this morning.

Today is a volatile and its where we close that matters. We're following the path from my chart perfectly - rally to 3130 and then a 100 point drop. If you draw a trendline from Friday's low it sits at 2977- That's the gate to new lows & this doesnt confirm bearish until it fails.

We just hit 2981 and bounced off of it. Will be interesting to see if it closes right around that level.
Click to expand...
Well --- we hit 2977 and shot up.  Is he predicting an upswing if we close above the 2977?

 
xulf said:
Well --- we hit 2977 and shot up.  Is he predicting an upswing if we close above the 2977?
Click to expand...
I'm guessing that since he said it matters where we close, that if we close above 2977, it can move higher and if we close below 2977, look out below. He will probably post something near the close today.

This is the full post from 4 hours ago:

Today is a volatile and its where we close that matters. We're following the path from my chart perfectly - rally to 3130 and then a 100 point drop. If you draw a trendline from Friday's low it sits at 2977- That's the gate to new lows & this doesnt confirm bearish until it fails.

He just posted this: 

This morning, I posted 2977 in $SPX was the gateway to new lows and after a bit of a battle its held strongly. This is a clean trendline extending from Friday's low, through yesterdays low. For bears - the next major short opp (to new lows) only comes when that's taken out.

 
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This all algos right now, correct? I mean EXPE has moved $2 off the high... Outside of short covering, I can't envision anyone putting money to work in Expedia right now. 

 
drunken slob said:
Mentioned earlier in the thread I had some loot laying around and bought 100 shares at $3.25

Never could get over my skepticism of them, sold all of it at $5.80/share. Not a huge number, obviously, but took while the taking was good. 
Click to expand...
I probably should take the quick profit but to hell with that. Lol

 
Maybe algos are bad during crisis situations. Like they got slaughtered today, they're buying the close again. I truly don't get it... What do these machines see that I don't?

Can't really complain, I love them. They're so conditioned to buy dips, it makes for marvelous opportunities, like today, when the Fed cut, coming off of stupid buying like yesterday. Didn't really need a machine to tell me to sell the panic.

 
fantasycurse42 said:
Maybe algos are bad during crisis situations. Like they got slaughtered today, they're buying the close again. I truly don't get it... What do these machines see that I don't?

Can't really complain, I love them. They're so conditioned to buy dips, it makes for marvelous opportunities, like today, when the Fed cut, coming off of stupid buying like yesterday. Didn't really need a machine to tell me to sell the panic.
Click to expand...
biased algos written by humans with bias?

 
If Bernie rolls tonight, combined with what is certainly becoming a pandemic, you'll want to gtfo quick. 

GLTA

3k will look like a mirage. 

 
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lod001 said:
Forgot about that. TIA. 
Click to expand...
Pandemic and a democratic socialist rolling. 

Yea, I'll buy that :lmao:

When bull markets go on for a long time, people believe bear markets can't happen... In my conversations irl, I get that sense, as I do in here as well. We're all gonna be working from home within a week, IDK what other red flags people need. This is the death of the consumer for the foreseeable future :shrug:

 
Capella said:
You keep saying this but Biden is the huge Vegas favorite right now. 
Click to expand...
1) Vegas is about as clueless on politics as the PSF, they're throwing darts like everyone else. We'll see, I have no lean, but Bernie has been rolling, I feel this is 50/50 at worst for him. 

2) If Biden does win, I expect some sort of reprieve in the market, but it will be short lived. Bull market is over, imo... This is the death of the consumer, the one thing that has been holding it up for the last 18-24 months. 

 
fantasycurse42 said:
1) Vegas is about as clueless on politics as the PSF, they're throwing darts like everyone else. We'll see, I have no lean, but Bernie has been rolling, I feel this is 50/50 at worst for him. 

2) If Biden does win, I expect some sort of reprieve in the market, but it will be short lived. Bull market is over, imo... This is the death of the consumer, the one thing that has been holding it up for the last 18-24 months. 
Click to expand...
I could see a 'Biden rally' tomorrow. Or a 'Bernie selloff'.

 
In a regular situation without a pandemic possibly coming, I'd consider buying the Bernie selloff. Basically a gridlock situation for 4 years where nothing gets accomplished, market would love that. 

 
I won money on a candidate I hated 3.5 years ago, expect the check is in the mail now. I'll back Bernie at 3-1 tonight. My $100 to your $300?

 
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