Once 4110 on /ES was taken out this am, there was not short case
left from yesterday. I was trying to buy a dip after the jobs
report, but my order at 4080 was not hit. They did not close the
gap, which is a sign of a reversal!
I agree Steve. I will be lightening up my longs into the
weekend. The KRE risk is 100% not over and we can wake up any
Monday morning with another bank run. As far as the headline
that they are going to look into market manipulation - I've heard
that one before and rarely does anything come of it. Bottom
line is that if a few guys with a lot of money (see hedge fund
managers) decide they want to short a stock and agree, they can do
so. It's not inside information. Relief rally is right
! Opened a KRE Sept 30 short today and added to my PNC short
which I posted several days ago. Given that we got a good
news (whatever) Friday, there is an increased likelyhood of a bad
news Monday.
Personally looking for more selling
Posted by steve on 5th of May 2023 at 02:18 pm
Personally looking for more selling into late May early June - relief rally today. Spare me the elevator crap up when the SPY is down this week.
KRE/IWM major laggards and more trouble ahead IMO
PROJECT MONITOR and ADJUST - Told Matt last night do NOT fade an early rally today. Nice to follow plan from last night
Once 4110 on /ES was
Posted by junkie on 5th of May 2023 at 02:31 pm
Once 4110 on /ES was taken out this am, there was not short case left from yesterday. I was trying to buy a dip after the jobs report, but my order at 4080 was not hit. They did not close the gap, which is a sign of a reversal!
I agree Steve. I will
Posted by fredsaid on 5th of May 2023 at 02:30 pm
I agree Steve. I will be lightening up my longs into the weekend. The KRE risk is 100% not over and we can wake up any Monday morning with another bank run. As far as the headline that they are going to look into market manipulation - I've heard that one before and rarely does anything come of it. Bottom line is that if a few guys with a lot of money (see hedge fund managers) decide they want to short a stock and agree, they can do so. It's not inside information. Relief rally is right ! Opened a KRE Sept 30 short today and added to my PNC short which I posted several days ago. Given that we got a good news (whatever) Friday, there is an increased likelyhood of a bad news Monday.
SPX has 5 waves up
Posted by steve on 5th of May 2023 at 02:19 pm
SPX has 5 waves up off 3808 so this may be a wave B bounce