Re: Financial topics
Posted: Thu May 07, 2020 9:16 pm
I added one more lot tonight at 2901.25. The market is currently trading 2905.25. Today's profit (Realized P&L) averages it in at 2907. That brings my break even to 2759.


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That didn't work (the market is up to around 2916 with a high of 2918.75), so I went on an emergency bot smashing frenzy to reduce back to 7 and get my short term trading profitable for the night. I may try to add another lot around the European open.Higgenbotham wrote: Thu May 07, 2020 9:16 pm I added one more lot tonight at 2901.25. The market is currently trading 2905.25. Today's profit (Realized P&L) averages it in at 2907. That brings my break even to 2759.
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Lets try looking at this in technical terms only. S&P500 is at 61.6 retracement at 2935. This is currently the peak level reached by the second wave on Wednesday 29 April. So I can imagine that a lot of shorts went into the market in the dip down in the few trading days after 29 April and until now. So shorts are starting to be squeezed it looks because they were probably made at between 2750 and 2850. If there is an event which shocks the market into turning down the momentum down will be hastened by more shorts being placed. If no shock then I reckon that 3000 is on from squeezing shorts. And in which case the crash is more likely from 18th to 27th. I went short yesterday. We wait.Higgenbotham wrote: Fri May 08, 2020 1:31 amThat didn't work (the market is up to around 2916 with a high of 2918.75), so I went on an emergency bot smashing frenzy to reduce back to 7 and get my short term trading profitable for the night. I may try to add another lot around the European open.Higgenbotham wrote: Thu May 07, 2020 9:16 pm I added one more lot tonight at 2901.25. The market is currently trading 2905.25. Today's profit (Realized P&L) averages it in at 2907. That brings my break even to 2759.
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The European open was the high of the session, but I didn't add. I smashed the bots after the employment report was released, then fell asleep.Higgenbotham wrote: Fri May 08, 2020 1:31 am That didn't work (the market is up to around 2916 with a high of 2918.75), so I went on an emergency bot smashing frenzy to reduce back to 7 and get my short term trading profitable for the night. I may try to add another lot around the European open.
If I had to guess, I think the dominant market dynamic this week has been: Move the market higher overnight when it's easier to move, squeeze the shorts overnight and hit stops at key levels (we saw that last week around 2960 and last night at 2920), then sell stocks during the day.richard5za wrote: Fri May 08, 2020 5:27 am Lets try looking at this in technical terms only. S&P500 is at 61.6 retracement at 2935. This is currently the peak level reached by the second wave on Wednesday 29 April. So I can imagine that a lot of shorts went into the market in the dip down in the few trading days after 29 April and until now. So shorts are starting to be squeezed it looks because they were probably made at between 2750 and 2850. If there is an event which shocks the market into turning down the momentum down will be hastened by more shorts being placed. If no shock then I reckon that 3000 is on from squeezing shorts. And in which case the crash is more likely from 18th to 27th. I went short yesterday. We wait.
richard5za wrote: Tue May 05, 2020 2:27 pm > I wonder how many people are planning a stock market crash this
> month? I am. Plus H = 2. Plus V =3 What about A - will you put a
> line in the water?
John wrote: Tue May 05, 2020 3:04 pm > No one knows the day or hour. The angels in heaven don't know, and
> the Son himself doesn't know.
Aaah yes, once again we revisit that great historical paradox -- ifrichard5za wrote: Wed May 06, 2020 1:31 pm > In human form, pre-Resurection, your comment about the Son is
> correct. But time is part of God's creation and God lives outside
> of time, and is not constrained by time. God's sees from the
> beginning to the end of time. So God knows exactly what will
> happen in the future in every detail.
I feel that the "calling" concept applies to me and Generationalrichard5za wrote: Wed May 06, 2020 1:31 pm > With this updated theological information, and your ability to
> read the signs of the times, you could apply to be a prophet!