SPXL closed@$30.52.  Just a scalp today.  

VXRT.  took half off at $3.20.  cost avg- $1.90.  

RGR@53.70 .  Guns, Ammo, Beans and Gold.  

That's great news but there is NO economy right now.  So the money will be used up like cocaine to a straw (or dollar bill).    Also this is a global shutdown (never has happened in history) so no one knows what the future is going to look like.  I am hopeful we climb out of this but it is a question of when and how long it will take (6,9,12, 24,36 months).  Anyway, anyone who says they know when it full of BS and selling you snake oil.   Just like people thinking oil has bottomed here, how can you make that call (there is no demand and more supply keeps hitting the market each day).  

long SPXL@29.90 Daytrade. 

BBY short at $67.72.  

More than likely we will get a good bonce tomorrow to set up to add to short positions. 

Looks more like a Bear flag setting up to break to the downside from that chart (just my humble opinion).   I would use that data on the chart ( Buy on a break above the top of the channel) so this way it invalidates the Bear flag.  

A look at the DJI on the hourly.   Keep this chart in your back pocket if it bounces off the bottom of the channel  may go for the last high in 250-260 area.  If it busts through the channel tomorrow then this chart is invalidated.   Or if it blows through 260, then 280.  Anyway this is what i am looking at for now on the 60 min. 

IF we break the 277 area (through the current price channel) then could see a fast move down to 250-240 area.  If we bounce off of 277 then maybe good entry to ride it back up to the top of the channel 290-295 area.  

If we get some weakness at the open on the QQQ's at the 210 area and see it catch a bid, I will go long for the day and see how it closes.  

Ha!

Just like politics, I never get caught up in one party.   You can have a bearish bias on one stock, one time frame and bullish bias on  stock with a certain time frame.  A stock or index can have a bearish bias on a 60 min and a bullish bias on a Weekly chart.  People who get caught up in being a "Bear or "Bull" are limiting themselves.  Right now you have Bullish FANG stocks, and Bearish Retail box shops.  Bullish Biotech or Bearish Banks.  So many ways you can play the markets.   And in the end historically stocks are Bullish longer term (as long as we stay a Capitalistic country and not turn to socialism ).    

That's the best advice "trim and tail" as Matt and Steve say.   In my younger days, so many times I had good gains in a position and watch it turn into losses.  And there are times I sold too early  (ex.  Bought Apple back in the day when it was trading at $43/share.  I sold it when it hit $150).   FB at $25 sold at $100.   Although I was fine putting those profits back into my trading account.   Anyway.  I have found that have a sound trading system with a sound trading plan is what makes traders the most successful.  Just like you would have if you owned a company (a business plan for each month, 6 months, one year, etc...).  

Thanks for posting.  Everyone is looking at $SPX 3000 at the final target for wave "C", what if that never comes?  What if 290 was it?  Then you will have a lot of people caught off guard and could be in for some pain.  

Looking at today's buying action in oil tankers, I would say not today.   Always use stops, trailing stops and you do not have to worry about that aspect.  The market doesnt care what we think.  IF you have a profitable position you protect it with using stops.  You can do 3 stops.  One at each crucial support.  So you get stopped out and take a profit on one, then if the stock goes back up you still have some shares to ride out the next leg.   Money management is the key to successful trading, buying is the easy part. 

That 20 month MA is powerful resistance.  May need another $2 trillion pump to get it over the line.  And in the end we will all have to share in paying that big bar tab back.  

Started a QQQ put position today.   I willing to hold out for all the crap pumping to blow up.  We could get a push to 220  and I will add more.  Math will win out in the end.  

Jan 2022  $115 SPY PUTS are starting to build some momentum.   Bought more this am at $1.80 a contract.    Contract closing price $2.24.  Average cost/contract now is $1.50

How does WTIC have a negative price?