I am long SPXU, TZA and SRS. my entry was not great this morning, but have held so far. hopefully this is a false breakout as you suggested, gcl. that was one wicked intraday reversal though. I am going to try and hold. hopefully we can fill the gap...
there is the new low of day on SnP. S. Mantra, my two brokerage houses have raised the margin requirement for two time and three times leveraged etfs. now, it does not help to trade these vs. straight out short positions on margin. sucks
I never went into margin land on the 2x/3x.. so I shouldn't be too affected by the new rule.. but I didn't mind having that back up where I could have doubled up at such an extreme amount ;)
Anyways, we might as well go straight to playing E-mini Futures.
If SPY closes below 111.0 and QQQQ closes below 44, then the market could have a good chance to fall back down. First it needs to fill the last Friday morning gap. Then I will expect the SPY will go back down to 106.50 area.
surely they will buy em on the beige book numbers. i mean, why not, every other number gets bought. still short and not liking the set up above SPY 111
I got out at the half hour. Wow. look at the Reits go. wtf? ggp comes out of bankruptcy and the short squeeze is on. unbelievable. gonna get the damn SRS to work one of these days
squeezing them today.. damn!
ReplyDeletedyssimi
What a false breakout! The longs got shackled after breaking out. The shorts got squeezed too.
ReplyDeleteI am still expecting SPY to hit 106.50 area.
I am long SPXU, TZA and SRS. my entry was not great this morning, but have held so far. hopefully this is a false breakout as you suggested, gcl. that was one wicked intraday reversal though. I am going to try and hold. hopefully we can fill the gap...
ReplyDeleteoops, meant to mention...we really need to take out todays lows for this to get legs to downside.
ReplyDeleteJDT, I am waiting for the gap fill from yesterday morning too. Then I will reevaluate the market from that point. I still have SPXU.
ReplyDeleteDouble up shorts here.
ReplyDeleteLike I said yestrday, SnP does not like 1098-1105 area. We need to see if it bounces here or slices thorugh fast. My guess is we will slice through.
ReplyDeletethere is the new low of day on SnP. S. Mantra, my two brokerage houses have raised the margin requirement for two time and three times leveraged etfs. now, it does not help to trade these vs. straight out short positions on margin. sucks
ReplyDeleteI never went into margin land on the 2x/3x.. so I shouldn't be too affected by the new rule.. but I didn't mind having that back up where I could have doubled up at such an extreme amount ;)
ReplyDeleteAnyways, we might as well go straight to playing E-mini Futures.
surebra
If you daytrade with margin, it shouldn't matter. You get in and get out the same day. No interest charge for overnight.
ReplyDeleteIf SPY closes below 111.0 and QQQQ closes below 44, then the market could have a good chance to fall back down. First it needs to fill the last Friday morning gap. Then I will expect the SPY will go back down to 106.50 area.
ReplyDeletesurely they will buy em on the beige book numbers. i mean, why not, every other number gets bought. still short and not liking the set up above SPY 111
ReplyDeletebeige book did not sound too good to me, but CNBC begs to differ. Positive spin TV
ReplyDeletethis market is one strong biatch. they just keep propping it up. last hour surge??? hope not
ReplyDeletethis has been a tough hold today. will it pay off into the close??? sell em boyz.
ReplyDeleteJDT,
ReplyDeleteI am going thru same feeling.
I got out at the half hour. Wow. look at the Reits go. wtf? ggp comes out of bankruptcy and the short squeeze is on. unbelievable. gonna get the damn SRS to work one of these days
ReplyDeleteThe market is still undecided which direction to go yet.
ReplyDelete