ES SPY SPX LAST LEG UP and after MOTHER OF ALL CRASHES
with how many days we have been stuck in the downtrend and the weakness we are experiencing breaking this trendline, I am going to play this tomorrow open as a month out call options play. I know charting on ES, but anyway you get the gist. gonna hold a stop less a little below the lows, but it seems to me that market getting ready to rebound clear out the divergences and some oversold conditions to make it happen.
Trading is all about possibilities and probabilities, june 24th 416 calls yields 300% on 430 mark, if i NGMI will take 50% loss, I will take my chances, but in 2008 there was one more leg up jut like here now, and although past is relative, certainly something to take into account. if we do pump will be great for vix to get lower so we can get more call leaps.
Peace out, Bullish short term, bearish long term
Trading is all about possibilities and probabilities, june 24th 416 calls yields 300% on 430 mark, if i NGMI will take 50% loss, I will take my chances, but in 2008 there was one more leg up jut like here now, and although past is relative, certainly something to take into account. if we do pump will be great for vix to get lower so we can get more call leaps.
Peace out, Bullish short term, bearish long term
Note
I WILL ACTUALLY WAIT FOR MACD TO DO A CROSS on daily to enter long postion. WILL NOT DO IT PREMATURELY
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