Kind of hard to imagine that traders will go home long over a
weekend and so much turmoil around the world. So, no big dump I
agree but close on a wimper.
Posted by DigiNomad on 18th of Aug 2023 at 02:06 pm
I needed that market dump like plants need water. I play
extremes...but sometimes things break records (like just a few
weeks ago with the DOW) and it gets uncomfortable.
Mathematically speaking, you know it has to revert to the
mean eventually. Doesn't help so much with the emotion though. I'm
just happy I held my nerve (again...22 sucked in the other
direction). I probably would have folded 10 years ago. *to be
clear, 22 was one of my best ever years relative to the
market.
Posted by icecoldjones on 18th of Aug 2023 at 02:11 pm
I did too diginomad, I finally got out of my shorts from late
May that I've added to over the last 3 months. Went from down $40k
to a gain of $6k and bailed after close yesterday.
Posted by DigiNomad on 18th of Aug 2023 at 02:49 pm
Near the highs, I started having consecutive down 100K ++ days.
Not fun no matter how big your accounts are. Lol
The tendency is to look at things in
absolute numbers in your trading accounts. I should turn that off
when I'm getting challenged and just stick to percentages to help
keep emotions in check.
Posted by DigiNomad on 18th of Aug 2023 at 02:52 pm
The wrong sectors are leading today, from Powell's perspective.
If DBC takes another leg higher (looks probable), he's going to be
stuck with a hawkish message for the markets.
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Do we get the Friday
Posted by rbreese on 18th of Aug 2023 at 12:53 pm
Do we get the Friday dump like the last few we have had?
I don’t think so. I
Posted by patellee on 18th of Aug 2023 at 01:24 pm
I don’t think so. I called 4347 the bottom yesterday here: https://breakpointtrades.com/blog/post/408415/.
we got close enough. We need above 4394 for any sort of rally though.
Although I’ve been for a week now and taking some heat. So being a bit patient here.
Good call on that bottom.
Posted by fredsaid on 18th of Aug 2023 at 03:30 pm
Good call on that bottom. Hope it holds for a few days.
Kind of hard to imagine
Posted by rbreese on 18th of Aug 2023 at 01:46 pm
Kind of hard to imagine that traders will go home long over a weekend and so much turmoil around the world. So, no big dump I agree but close on a wimper.
I meant to say I
Posted by patellee on 18th of Aug 2023 at 02:02 pm
I meant to say I have been LONG for a week and taking heat. I was caught a bit off guard on the depth of the dump.
I needed that market dump
Posted by DigiNomad on 18th of Aug 2023 at 02:06 pm
I needed that market dump like plants need water. I play extremes...but sometimes things break records (like just a few weeks ago with the DOW) and it gets uncomfortable. Mathematically speaking, you know it has to revert to the mean eventually. Doesn't help so much with the emotion though. I'm just happy I held my nerve (again...22 sucked in the other direction). I probably would have folded 10 years ago. *to be clear, 22 was one of my best ever years relative to the market.
I did too diginomad, I
Posted by icecoldjones on 18th of Aug 2023 at 02:11 pm
I did too diginomad, I finally got out of my shorts from late May that I've added to over the last 3 months. Went from down $40k to a gain of $6k and bailed after close yesterday.
Congrats on your patience.
Posted by rbreese on 18th of Aug 2023 at 03:13 pm
Congrats on your patience.
Near the highs, I started
Posted by DigiNomad on 18th of Aug 2023 at 02:49 pm
Near the highs, I started having consecutive down 100K ++ days. Not fun no matter how big your accounts are. Lol The tendency is to look at things in absolute numbers in your trading accounts. I should turn that off when I'm getting challenged and just stick to percentages to help keep emotions in check.
Nice! Sometimes convictions pays off....and
Posted by DigiNomad on 18th of Aug 2023 at 02:23 pm
Nice! Sometimes convictions pays off....and math
It really feels like lots
Posted by rbreese on 18th of Aug 2023 at 02:50 pm
It really feels like lots of short covering in the last hour or so to protect the shorts before Powell and NVDA both report next week.
The wrong sectors are leading
Posted by DigiNomad on 18th of Aug 2023 at 02:52 pm
The wrong sectors are leading today, from Powell's perspective. If DBC takes another leg higher (looks probable), he's going to be stuck with a hawkish message for the markets.