S&P 500 IndexShort
New Bear Cycle Starts Today, Tell Ya Grandmas
Updated
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andddd.... bear market.Trade active
lol, if green by 8 pm, will legitimately request a reset.Trade active
Welp, looks like I'm still reputable. On that note, I do have some slight tweaks to mention after having witnessed multiple blow-offs result in HOD closes:- Will reiterate that the "bear" market has already begun - parabolic moves higher are indicative of a trend change taking place - regardless of the apparent point appreciation occurring [remember, indices are denominated in USD; the supply of which is increasing faster than that reflected in these moves higher on an "index point basis." Divide the indices by any other historical instrument and you might find flatness for the past 6 months.
- While the "bear" market has begun, it doesn't seem that way.
No sh**.
However, the indices can go higher all they want & rebound from ridiculously acute angles after clear intraday throwovers. We all know such movements never last long and always end poorly for the masses.
- Thus, as a pig, I will take what the market gives me and ride the train up to the 1.618 extension on the Nasdaq~12200), and/or the full DOW retracement to ~29900 (probably slightly higher than prior all-time high). Actually, just the DOW is fine in this case.
- At the current pace, it's hard to envision the parabolic move lasting more than two more weeks. Thus, I will ride the pig-bull wave this week but will do so completely hedged. All the while, I will be stacking puts as subtlety as Buffet is "not stacking" gold.
Good luck and stay safe.
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Hey Grandma,Long time no speak!
Just wanted to let you know that the bear market is in.
That will be all for now.
- Perma_Pig
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