Squeeze big time - think of all those massive short positions
waiting for the economy to soften harder and EPS estimates to
ratchet down faster. They may prove right, but they are too
early.
Posted by DigiNomad on 10th of May 2023 at 09:55 am
I'm doing just fine with shorts (90% of my account). You don't
have to short at the money to make money. Also, the twitterati
celebrating a 5.0% core CPI (Kobessi Letter, etc) and saying the
Feds plan is working need to step away from the bong and think for
a second. After today's flat core print (e.g. the one that shows no
improvement and is still 150% above 2% target), the Fed is stuck
between two choices - another raise or a pause. They might get
pressured into a pause, but they probably need a raise (or 4).
Consider this: how bad is 5% core? Well, prices will double
every 14.4 years with that rate of inflation (great for some
businesses, but probably not great for you). On the other hand, at
2%, prices double every 36 years. Not so great for the a lot
of businesses trying to show growth at all costs (even if growth is
simply a function of passing on inflated prices to consumer, as it
has been recently), but much better for the common
people.
wow I managed to buy that bottom when SPX testes the 50 SMA on
the 5 min - I got into MES via the 2 min Heiken Ashi chart - I'm
really liking those Heiken Ashi bars lately for trading MES on -
triggered off the small doji
anyway lucky buy - now we'll see what happens the rest of the
day.
on the gap up I was wondering if it would turn into a trend day
but you don't get pullbacks like that on a trend day, and now price
has retraced more than 1/2 of that decline, so we'll see what
transpires
Squeeze big time - think
4/23 ES Levels June Contract (ESM24)
Posted by te22 on 10th of May 2023 at 09:15 am
Squeeze big time - think of all those massive short positions waiting for the economy to soften harder and EPS estimates to ratchet down faster. They may prove right, but they are too early.
I'm doing just fine with
Posted by DigiNomad on 10th of May 2023 at 09:55 am
I'm doing just fine with shorts (90% of my account). You don't have to short at the money to make money. Also, the twitterati celebrating a 5.0% core CPI (Kobessi Letter, etc) and saying the Feds plan is working need to step away from the bong and think for a second. After today's flat core print (e.g. the one that shows no improvement and is still 150% above 2% target), the Fed is stuck between two choices - another raise or a pause. They might get pressured into a pause, but they probably need a raise (or 4). Consider this: how bad is 5% core? Well, prices will double every 14.4 years with that rate of inflation (great for some businesses, but probably not great for you). On the other hand, at 2%, prices double every 36 years. Not so great for the a lot of businesses trying to show growth at all costs (even if growth is simply a function of passing on inflated prices to consumer, as it has been recently), but much better for the common people.
te22 - the market gods
Posted by matt on 10th of May 2023 at 09:54 am
te22 - the market gods saw your comments below and decided to smack the market gap LOL
I caught the pullback, too
Posted by te22 on 10th of May 2023 at 10:12 am
I caught the pullback, too +$8k on long QQQ trade :)
wow I managed to buy
Posted by matt on 10th of May 2023 at 10:04 am
wow I managed to buy that bottom when SPX testes the 50 SMA on the 5 min - I got into MES via the 2 min Heiken Ashi chart - I'm really liking those Heiken Ashi bars lately for trading MES on - triggered off the small doji
anyway lucky buy - now we'll see what happens the rest of the day.
on the gap up I was wondering if it would turn into a trend day but you don't get pullbacks like that on a trend day, and now price has retraced more than 1/2 of that decline, so we'll see what transpires
another nice trigger off the
Posted by matt on 10th of May 2023 at 11:34 am
another nice trigger off the lows off that heiken ashi bar