SPY today is the day to start accumulating a short position
Updated
As you all know we have had an insane amount of volatility and uncertainty in the market. Good thing for us is that simple TA comes in the most handy in conditions like this.
Some may be wondering, "Why is the market going up!?!?!?!? MY PUTS ARE DYING" , but don't worry too much, we still have room to return and surpass the recent low:
Covid-19 is much worse than believed, simple DD is that nurses in largely infected parts of the US have claimed that hospitals are already filled & we haven't even hit the peak.
Not being protrayed on media, but we've had about 9k successfully recover & 7k die. This death rate is insanely high for anyone who needs to be in ICU and isn't being talked about.
The companies debt is being forgotten about as well as the oil situation with Saudi & Russia that we are very much so affected by.
The resistance shown is the 11 year bull market's trend line. It's been reacting insanely well with price action telling us that there is still a resistance to push higher which tells us that the lows are not in.
Every recession has had a pull back to a significant resistance or trend line, before continuing lower : in 2008 it was a low made months prior.
I am cheap so I'll be loading up on 200$ puts awaiting the push to 180. The recovery of the market will be slow and not look to have a clear direction, if you want to play the market back up, just buy long dated VIX puts.
Happy trading, don't forget to like and follow if you enjoy simple TA incorporated with current news :).
Some may be wondering, "Why is the market going up!?!?!?!? MY PUTS ARE DYING" , but don't worry too much, we still have room to return and surpass the recent low:
Covid-19 is much worse than believed, simple DD is that nurses in largely infected parts of the US have claimed that hospitals are already filled & we haven't even hit the peak.
Not being protrayed on media, but we've had about 9k successfully recover & 7k die. This death rate is insanely high for anyone who needs to be in ICU and isn't being talked about.
The companies debt is being forgotten about as well as the oil situation with Saudi & Russia that we are very much so affected by.
The resistance shown is the 11 year bull market's trend line. It's been reacting insanely well with price action telling us that there is still a resistance to push higher which tells us that the lows are not in.
Every recession has had a pull back to a significant resistance or trend line, before continuing lower : in 2008 it was a low made months prior.
I am cheap so I'll be loading up on 200$ puts awaiting the push to 180. The recovery of the market will be slow and not look to have a clear direction, if you want to play the market back up, just buy long dated VIX puts.
Happy trading, don't forget to like and follow if you enjoy simple TA incorporated with current news :).
Note
Trade active
Note
Accidentally posted a trading active haha
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