Yep, and you've been spot on Dan. I'm holding puts over the weekend - not even worried about a bounce. Lots of very bearish setups right now. S&P should test 3300 soon (if not this afternoon).Dan Scott said:
I think it means more downside. We haven't really gotten the huge volume flush and snap back. VIX hasn't even gone green yet
I would not be shocked if they run the QQQ back above the 50DMA (271.35) before the EOD. Not saying I think it will happen, saying I wouldn't be shocked by it. We've seen the **** happen in this market way too many times IMOBREwmaster said:Yep, and you've been spot on Dan. I'm holding puts over the weekend - not even worried about a bounce. Lots of very bearish setups right now. S&P should test 3300 soon (if not this afternoon).Dan Scott said:
I think it means more downside. We haven't really gotten the huge volume flush and snap back. VIX hasn't even gone green yet
BREwmaster said:Yep, and you've been spot on Dan. I'm holding puts over the weekend - not even worried about a bounce. Lots of very bearish setups right now. S&P should test 3300 soon (if not this afternoon).Dan Scott said:
I think it means more downside. We haven't really gotten the huge volume flush and snap back. VIX hasn't even gone green yet
Orlando Ayala Cant Read said:BREwmaster said:Yep, and you've been spot on Dan. I'm holding puts over the weekend - not even worried about a bounce. Lots of very bearish setups right now. S&P should test 3300 soon (if not this afternoon).Dan Scott said:
I think it means more downside. We haven't really gotten the huge volume flush and snap back. VIX hasn't even gone green yet
Are you guys thinking we go back to a March like pull down?
This one has been quite good to me. Carrying a few 9/18 220C net free into their ER next weekCreakinDeacon said:
Even in all of this selling, take a look at FDX. Holding up very well comparatively
Orlando Ayala Cant Read said:BREwmaster said:Yep, and you've been spot on Dan. I'm holding puts over the weekend - not even worried about a bounce. Lots of very bearish setups right now. S&P should test 3300 soon (if not this afternoon).Dan Scott said:
I think it means more downside. We haven't really gotten the huge volume flush and snap back. VIX hasn't even gone green yet
Are you guys thinking we go back to a March like pull down?
That was also before we had direct interference from the Fed in the markets too.Dan Scott said:
No, not a march but I think the 200MA is in play. Looking back to 2017, anytime we've had a material breach of the 50MA during an uptrend, we've tested the 200MA
I don't know how fast it happens but there's room for about another 5% downside left In my opinion
WKHS is up there too. This has piqued my interest in the short term to make moves similar to NKLAMcInnis 03 said:
If anyone is looking for a fish that can swim up stream, NKE is hitting new ATH today.
That was also when "millions of Americans" will die, NY needs 30k ventilators, Hospital ships to NYC and LA, Mobile morgues, convention ctrs and stadiums converted to triage units and we have to shutdown the economy and everyone stay home. All this bull**** over a cold virus with a 99.97% survival rate.CreakinDeacon said:That was also before we had direct interference from the Fed in the markets too.Dan Scott said:
No, not a march but I think the 200MA is in play. Looking back to 2017, anytime we've had a material breach of the 50MA during an uptrend, we've tested the 200MA
I don't know how fast it happens but there's room for about another 5% downside left In my opinion
MaroonDynasty said:
Need SNAP to close over $24.
Regardless, the fed fueled market is buy the dips until they hint at drawing down their support.tailgatetimer10 said:
I think he was talking about 2017..
CreakinDeacon said:WKHS is up there too. This has piqued my interest in the short term to make moves similar to NKLAMcInnis 03 said:
If anyone is looking for a fish that can swim up stream, NKE is hitting new ATH today.
NIO, SPAQ, WKHS, they're all benefitting from A) TSLA & B) The questions around NKLADan Scott said:
Really impressed how well NIO has held up. It's been relatively strong last couple weeks
2.5pts off the lows...~1.5pts to go with 1.5hrs left... This could turn into a bear slaughter if the bulls pull it off. A trap has been set with the ETF call:putCreakinDeacon said:I would not be shocked if they run the QQQ back above the 50DMA (271.35) before the EOD. Not saying I think it will happen, saying I wouldn't be shocked by it. We've seen the **** happen in this market way too many times IMOBREwmaster said:Yep, and you've been spot on Dan. I'm holding puts over the weekend - not even worried about a bounce. Lots of very bearish setups right now. S&P should test 3300 soon (if not this afternoon).Dan Scott said:
I think it means more downside. We haven't really gotten the huge volume flush and snap back. VIX hasn't even gone green yet
Prognightmare said:Regardless, the fed fueled market is buy the dips until they hint at drawing down their support.tailgatetimer10 said:
I think he was talking about 2017..
You must now change your handle to "Permabull Sunshine Pumper"59 South said:
Agree, this could end up being hilarious imo. SPY just went green.
Yours truly, permabull
Oh bears...this is sad even on low volume!! I hate the 5min, but if it clears 270.65, It's got a direct line to 271.66...Back above the 50!CreakinDeacon said:2.5pts off the lows...~1.5pts to go with 1.5hrs left... This could turn into a bear slaughter if the bulls pull it off. A trap has been set with the ETF call:putCreakinDeacon said:I would not be shocked if they run the QQQ back above the 50DMA (271.35) before the EOD. Not saying I think it will happen, saying I wouldn't be shocked by it. We've seen the **** happen in this market way too many times IMOBREwmaster said:Yep, and you've been spot on Dan. I'm holding puts over the weekend - not even worried about a bounce. Lots of very bearish setups right now. S&P should test 3300 soon (if not this afternoon).Dan Scott said:
I think it means more downside. We haven't really gotten the huge volume flush and snap back. VIX hasn't even gone green yet
Yep - a bit too far for $WKHS. Seems to follow TSLA on about a 10-day lag too. Buying 9/25 $22Ps for $1.95. Think she falls to $18ish.CreakinDeacon said:WKHS is up there too. This has piqued my interest in the short term to make moves similar to NKLAMcInnis 03 said:
If anyone is looking for a fish that can swim up stream, NKE is hitting new ATH today.
Great point and I have to agree... even if it isn't popular opinion here. Fed can only do so much for so long, eventually a more sizeable cool off is needed. Volatility has also been curling upward for a week or so now (then it gets suppressed down, like clockwork). Eventually that game won't work.Dan Scott said:
No, not a march but I think the 200MA is in play. Looking back to 2017, anytime we've had a material breach of the 50MA during an uptrend, we've tested the 200MA
I don't know how fast it happens but there's room for about another 5% downside left In my opinion
Have been successfully selling covered calls far enough out of the money to pocket premium this whole run up, NIO has been really good to meDan Scott said:
Really impressed how well NIO has held up. It's been relatively strong last couple weeks