stm, don't panic. This is exactly the MMs are trying to do. Investors who shorted previously are covering their shares. The MMs are trying to trigger the stop loss limit for the shorts at the top. Once it is all done, it will go back down. It will hit 101.25 for SPY and 39.95 for QQQQ. Don't trade with your emotions.
Despite all the buying interest seen all day, it seems the indices are downward bound. Is it the beginning of a turn around in the market? GCL's calls are sure to be reached in a day or two.
do you have any stop loss on the spy targets... its around 104 now... still holding my puts though...
ReplyDeleteit is they want to make it like NO ONE is left short in the market at anytime during the day.
ReplyDeleteMaybe there is a technical problem at some exchange. I'm ready to fall asleep.
stm, don't panic. This is exactly the MMs are trying to do. Investors who shorted previously are covering their shares. The MMs are trying to trigger the stop loss limit for the shorts at the top. Once it is all done, it will go back down.
ReplyDeleteIt will hit 101.25 for SPY and 39.95 for QQQQ.
Don't trade with your emotions.
gcl,
ReplyDeleteDo you suggest shorting the market as it goes higher here.
ya, thats what i was thinking, but thought of checking with you, thanks...
ReplyDeleteIf SPY breaks below 103.70, we could have seen the top at 11:45 AM for today. That sharp spike could be the last stop loss limit for shorts.
ReplyDeleteThere are lots of stocks didn't participate with the market rally.
Gold stocks are continue to fall.
Watch the dollar. If it strengthens in afternoon trade, we should get a sell off.
ReplyDeleteJDT,
ReplyDeleteWhat is the index for dollar?
I am just using UUP as indicator. It is the double long dollar etf. It is just about at high of day.
ReplyDeletegcl,
ReplyDeleteAnother great call. Seems market reversed.
Despite all the buying interest seen all day, it seems the indices are downward bound. Is it the beginning of a turn around in the market? GCL's calls are sure to be reached in a day or two.
ReplyDeleteFrom 3:00 PM, the MMs is hard at work. They are trying to prop up SPY to hit 103.85 area. Then it will let it fall.
ReplyDelete