If This Comes True, It's My Birthday. Down To SPX 1900!
Have enough bulls taken the bait? Have enough weak-handed bears been shaken out?
From what I can gather, from the time of this post to the end of May 22nd market hours, the fuse to ignite the SPX bear dynamite may have been lit.
SPX 1900!
From what I can gather, from the time of this post to the end of May 22nd market hours, the fuse to ignite the SPX bear dynamite may have been lit.
SPX 1900!
Note
Here is some content for you to chew on over the weekend.J.Pow on 60 Minutes after the futures markets open on this coming Sunday.
Citi says market sentiment has entered into Euphoria. twitter.com/farrisbaba/status/1261659310528045057?s=20
Warren Buffey's list of sales. twitter.com/JTSEO9/status/1261640865010929666?s=20
News on oil supply for upcoming week. oilprice.com/Energy/Oil-Prices/Fragile-Oil-Markets-Under-Threat-From-50-Million-Barrels-Of-Saudi-Crude.html
Next week FED buybacks are reduced from 7B to 6B.
Substantially more PUTS bought at market close than CALLS. twitter.com/CryptoParadyme/status/1261429375271972864?s=20
ig.com/en-ch/indices/markets-indices/weekend-wall-street
Note
“Asset prices remain vulnerable to significant declines should the pandemic worsen, the economic fallout prove more adverse, or financial system strains reemerge. The improvement in asset markets since their troughs reflects expectations for a rebound in economic activity as well as the extraordinary policy actions taken. Uncertainty remains high and markets remain volatile relative to historical norms, suggesting the possibility of further price declines should developments prove more adverse than expected. Price declines could be especially pronounced in areas where valuations have remained high.”Note
A prominent permabull has blocked me on Twitter for pointing out his terrible calls through the Feb/Mar downturn.His disciples have blocked me too.
All this tells me is that no one knows what the future holds.
All I can depend on is gravity.
Be well, permabulls. I have absolutely no pity for you when you go bankrupt. Even if you have to sell your kids to pay your debts, absolutely no remorse from my part.
Good luck!!!
Note
SPX didn't break out the boundaries of my green box; but even if it were to, I am fully confident that it's algos stop hunting before for the final hurrah. I did me the same; I know there are a bunch of trapped bears who can't take the pain any longer. I went stop hunting and picked up puts on firesale in various indexes and equities. I know I bought them from half-steppin' bears because algos wouldn't give up these puts for so cheap.
Done for today. Ready to go fishing again tomorrow.
Note
If my green box remains unscathed on the upper boundary, I will have to pat myself on the back.Shout out to my bear army. Let's all hope for a limit down.
Regardless of the situation, the battle continues!!!
Note
Currently at 27 likes. If I get 50, I will drop my exit TP.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.