Surely who ever knew this in Britain must have made a killing on their short positions. The Queen and Dutches must be quite happy today. They feel England is free again and they made money on their short positions.
Wow. Yet another problematic experience logging into ToS. I swear, it's like they're trying to prevent retail from panic selling whenever there are crashes. I'm getting sick and tired of it, most of the money is to be made near the open and then re enter at the close.
This whole summer is gonna be the Greek crisis X's 10 imo. As I understand it this vote isn't even binding so you will have lots of back in/back out days lol and other countries are going to start talking about jumping out of the EU. Pick your low/high points and swing for the fences boys, we're gonna make some serious coin this summer if we we trade em' well.
^^ this btw i'm not sure if this has already been said here yet ... but a big welcome to you @Revan to Stockaholics! i'm liking your input here ... keep it coming
i used to be a forex guru back in the day ... but i can't wrap my head around the moves we've seen in all the major USD pairs in the past 12 hours honestly ... that was some of the craziest overnight action like the CABLE which i have never seen in my life ... it was just breathtaking to say the least
Overnight we hit the 5% lock down limit on /ES and we got a nice recovery at the open but now we're heading back towards retesting the daily lows. The close is looking more and more bearish so the bottom is definitely not in. I have my targets slightly above the January lows of 15770 (so 15,900) before I enter long. IT DOES NOT look like those lows will get broken. The August 2015 lows did not get broken in January even though they did on S&P and the Nasdaq. Since the DOW is typically the index international investors put their money into (probably because it's the most highly valued lmao), it shows that foreign investors pounced on the Jan dip and didn't allow it to break its 2015 lows. This is highly bullish long term for our national indices but bearish for the European, Asian, and rest of the world markets (especially emerging markets), as their economies turn to chit and they take their money out of their markets and put into the US which is seen as the world's safe-haven.
Tempted to exit my super-long positions only if there's still profit remaining, and then re-enter super long positions later... Might wait for a small rebound first...
It will be interesting to see how this vote impacts the next round of earning reports starting in July. Analysts already anticipated a 5th straight quarter of negative earnings, with recent downward revisions. The only silver lining was that the trajectory was up from the previous quarter. With the potential impact of this vote to the dollar and companies that have exposure to Europe, I can only imagine we will see more negative revisions toward guidance. Can this bull market remain defiant in the face of 5 quarters of negative earnings, 6..? I personally don't thinks so, unless we get a new round of QE and NIRP here in the US, then all bets are off.
Tough decision as we don't know how long this fall out will last.You could also do some puts for a little protection I will probably ride it out and do some plays when we see some kind of market stabilization.
