Posted by DigiNomad on 12th of Aug 2022 at 05:24 pm
I am 100% short after today, but it's a buffered short
(breakevens above 61.8%). I don't have to worry about the magnitude
of the pullback...I just need a pause or a crash. Either
would be fine. Pullback of 320 - 400 looks more likely to me, but I
think it will end up being a big B wave in even bigger ABC before
longer move down to new lows...and the turn will actually come at
the 78.6% fib. The only way I get 800 - 1000 currently is measuring
the bottom of the channel.....but I'm sure Steve had some logic in
play.
Posted by DigiNomad on 12th of Aug 2022 at 05:26 pm
They just jinxed me a bit by mentioning the 61.8% as likely
target on Fast Money. In the same conversation they mentioned that
the Fed is likely to want to keep things calm until after the
midterms....which I totally agree with. Polls are already much
better for the Dems after this market move.
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I am 100% short after
Completely roasted on all the short I am holding as ...
Posted by DigiNomad on 12th of Aug 2022 at 05:24 pm
I am 100% short after today, but it's a buffered short (breakevens above 61.8%). I don't have to worry about the magnitude of the pullback...I just need a pause or a crash. Either would be fine. Pullback of 320 - 400 looks more likely to me, but I think it will end up being a big B wave in even bigger ABC before longer move down to new lows...and the turn will actually come at the 78.6% fib. The only way I get 800 - 1000 currently is measuring the bottom of the channel.....but I'm sure Steve had some logic in play.
They just jinxed me a
Posted by DigiNomad on 12th of Aug 2022 at 05:26 pm
They just jinxed me a bit by mentioning the 61.8% as likely target on Fast Money. In the same conversation they mentioned that the Fed is likely to want to keep things calm until after the midterms....which I totally agree with. Polls are already much better for the Dems after this market move.