Posted by DigiNomad on 5th of May 2023 at 01:53 pm
My favorite part of the day today is how many talking heads were
wrong yesterday....at least in the short term...and not wrong by a
little. It has been a bloodbath for anyone that said they Fed has
no idea what they are doing. Not that the Fed is happy about this
rally - I'm sure they like KRE rallying, but not the broader
market. They will have to march out soldiers again to combat this
move higher. I expect that to happen sooner rather than
later.
Yep but it's also not about being right and knowing the
direction the market is going, it's about having a plan and
executing on that plan
case in point: last night Steve and I talked about the market
pretty late. It was his opinion that today was be a trend day
either up or down, he was looking for a 1.5 - 2% day up or down.
And we both discussed that which ever way it broke we would jump on
that side, long or short. We thought it could go either way
with a slight bias to the upside because of the AAPL reaction but
we were prepared to act either direction
since it was up and broke a few key levels we went long pre
market and all during the day
so again it's not about knowing exactly which direction it will
go, but identifying key levels that confirm which way it's
going
Just seeing these messages. Don’t mean to offend anyone. I was
short NVDA since Tuesday ( was long until Monday afternoon)… I took
advantage of both sides.
Went heavy long yesterday with your diamond pattern chart.
I’m ready to ride the trend as long as it exists. Sold out 1/2 XBI
and 1/2 RCKT from long term account.
All i meant to say was bulls are rallying with vengeance
while bears are fumbling.
This week in a nutshell Elevator
Posted by arun on 5th of May 2023 at 01:24 pm
This week in a nutshell
Elevator up staircase down .
My favorite part of the
Posted by DigiNomad on 5th of May 2023 at 01:53 pm
My favorite part of the day today is how many talking heads were wrong yesterday....at least in the short term...and not wrong by a little. It has been a bloodbath for anyone that said they Fed has no idea what they are doing. Not that the Fed is happy about this rally - I'm sure they like KRE rallying, but not the broader market. They will have to march out soldiers again to combat this move higher. I expect that to happen sooner rather than later.
Yep but it's also not
Posted by matt on 5th of May 2023 at 02:10 pm
Yep but it's also not about being right and knowing the direction the market is going, it's about having a plan and executing on that plan
case in point: last night Steve and I talked about the market pretty late. It was his opinion that today was be a trend day either up or down, he was looking for a 1.5 - 2% day up or down. And we both discussed that which ever way it broke we would jump on that side, long or short. We thought it could go either way with a slight bias to the upside because of the AAPL reaction but we were prepared to act either direction
since it was up and broke a few key levels we went long pre market and all during the day
so again it's not about knowing exactly which direction it will go, but identifying key levels that confirm which way it's going
Just seeing these messages. Don’t
Posted by arun on 5th of May 2023 at 07:00 pm
Just seeing these messages. Don’t mean to offend anyone. I was short NVDA since Tuesday ( was long until Monday afternoon)… I took advantage of both sides.
Went heavy long yesterday with your diamond pattern chart. I’m ready to ride the trend as long as it exists. Sold out 1/2 XBI and 1/2 RCKT from long term account.
All i meant to say was bulls are rallying with vengeance while bears are fumbling.
Agree, but I trade about
Posted by DigiNomad on 5th of May 2023 at 02:12 pm
Agree, but I trade about 6 weeks out, not 1 or 2 days. So my style requires a bit more thought on longer time frames.
Kind of rare, but I'm out longer than 6 weeks now. My predominant short strike at the moment is SPX 4400, July Expiry.