Of course, wanting the SPX to collapse again so that I can re-enter long at a meaningful level given the current price action
What is the 3-Day Rule in Stock Trading? • Benzinga Answers Sudden drops in stock prices can trigger margin calls in accounts that either bought the stock using leverage or entered into options contracts using leverage. These margin calls can trigger additional sales the next day, driving the price down further. Additionally, institutional investors that want to exit a position almost never dump their shares all at once, instead electing to spread their sales over the span of 2 to 3 days. The reason for this is because high sell volume will cause a stock to nose-dive, so instead of selling as fast as possible, they sell over the course of a few days to maximize their selling price. This continued selling forces the stock to drop more but not to the same extent as the initial drop.
At the SPX 4240 level, I don't know what's likely to happen--it could collapse to 4170 or 4180 or it could rally from this point forward. But, the price is still acting funny. After the rally yesterday, the SPX should have flown to 4300+ today. But it faltered. So, it's clear the market is undecided as yet what to do. So, trading has to take that ambiguous status into account
Walmart says users of weight-loss drugs are buying less food (nbcnews.com) PEP, KO and MDLZ, etc. taking a hit today because traders think people will be buying less food due to the weight loss drugs
I don't think I want to buy unless the SPX hits non-above 4200. At 4500, I didn't believe it could collapse to 4300 and it did. So, now I wonder if it's possible to hit 4170 or non-above. But, whatever the case, I'm basically at break even or virtually at my all time high for my account. I believe in protecting your balance first and then think about profits. I'd rather be in this position at 4260 rather than at 4600 and about to collapse
The ES after hours is acting sort of strange FOR A BULL THESIS. It's at 4255 or negative 3 points at the moment. It should be like at 4270 or higher. This suggests to me two things: 1. it's going to test that 4200 level or 2. it's about the NFPR tomorrow morning. If it collapses to the 4220 level tomorrow, it would suggest testing that 4200 level, finally. If it pops, then oh well for me...because for an entry, I want a nice plunge
Ok, early in the morning, I entered long and then I exited on that rally. But exited too soon. Wanted to profit take and risk manage. So, my account is at the highest level ever, but still I exited too soon. Difficult. But, it's better, I think, to exit at a level of comfort. Being greedy can set you back more, I've discovered, if you happen to be wrong. I'm starting to believe that protecting what you have trumps being too greedy. Always more opportunities in the future. Always
Congrats indeed I think @Frankenstein is doing a great job of waiting patiently for his entry/opportunity and he doesn't mind to sit out for weeks/months if he doesn't feel good about his entry point. A lot us probably are overtrading a little bit
The stocks from Israel took a hit today, looking at some stocks such as CAMT, MBLY and TSEM for possible buying opportunities Earnings from PEP tomorrow, they have been doing poorly lately due to the concerns of the weight loss drugs will make people to consume less food. I think it was an overreaction but we will see how they did with tehir earnings tomorrow
The PPI and the CPI coming up, let's see if those data will cause some volatility not only to the stock market but to the bonds market as well
S&P following same graph as previous year 2021 https://twitter.com/michaelsantoli/status/1712178882718113871?t=lvjUnBidKD35DrjXqS3Bqw&s=19
Check S&P from 2021 moveing up through end of year Then you have Russell at a bottom it will move up also. Bull! https://twitter.com/Hirok_TrueNorth/status/1713934474839466019?t=SQMGThX52o3Uoc3-srprZw&s=19
Check the 10 Year Treasury bonds first time in decade at 0. https://x.com/SoberLook/status/1714569223563845654?t=nIwrDoxiv1wzCXlC8kIijw&s=09
If yields keep pushing higher then it is hard for equities to have any significant rally I would think
QLYS and ADBE holding up pretty well, I thought I was smart to take profits from these 2 positions guess not
