glad i went short yesterday lol, wow. now the vix is having a normal reaction. it was wierd how it barely moved on the up days
ill probably hold on to my LABD since its a smaller position, and take off my SPXU, while i feel there is more downside to come, i never liked the idea of holding a short over the weekend.
If memory serves, shorts during this pandemic over the weekend have been money overall since bad stories come out every weekend about increases in cases and deaths.
I’ll probably close my position before the weekend to protect my gains. I do think it’ll be a bloody Monday though.
Probably a good idea, but no telling what nonsense comes over the weekend. One thing for sure, the number of new covid-19 cases and fatalities are going to be higher.
Agreed, unfortunately. Entering this weekend I think all the obvious future events that could be priced in now have been, and the upcoming market activity will be dictated by the virus and/or our response to it as well as resulting ripple effects...which, unfortunately, I think means more potential for bad news than good since we're in uncharted waters now. The stimulus should help but you can't spend your way out of a pandemic. I'm expecting crazy volatility to resume starting Monday. Still don't know what that means for my investing strategies, though. Hope you all stay safe and healthy. Edit: had started another comment earlier and didn't realize I hadn't deleted it!
Former resistance at 2500 turned into support today. And we did rally on bad news (3.3 million jobless) yesterday. Would not be surprised if we make it up to the declining 50 sma. As long as we hold above 2500...
Sold, we will probably hear more bad news, but with so much QE going on I wouldn’t be surprised to see this market rallying even with bad news
