Yeah, kinda. Not exactly go to 0, but its days seem to be numbered. It seems stockholders get more excited at the thought of selling all the pieces off, rather than trying to make (adjusted) profits from the company. The best play is to be long because any rumor (even when they're selling a piece for less than they bought it) gives it a huge bounce.
Earnings after the close today: ($TRIP $VNR $JAZZ $PSEC $REXX $HRTG $AEZS $ASM $CVG $AGTC $VSLR $ZAYO $SSRI $CPA $APRI $ARTX $DOOR)
yesterday i had mentioned the leadership in the transports which had broke out to new 52wk highs yesterday for the first time since late dec. 2014 another one worth noting is /hg copper futures ... that is on a pretty serious move ... could those 2 be signaling positive signs for the global econ?
so is it now safe to assume tonight's big binary event has been largely baked into the cake now? lol cash s&p has now recaptured all the losses from that 9-day losing streak and then some...
Yeah definitely largely baked in, I think we see some profit taking or selling the news tomorrow even the results are coming in as expected
If Hillary wins their will be a small sell-off, if Trump wins a large one . Just my opinion of course.
I hope no matter who wins this is a buy the rumor sell the news event. I'm very long volitility right now and averaging in to get longer. Can we have a crash tomorrow?
Right now I would say more downside risk than the upside risk for sure. If Hillary wins and we gap up tomorrow morning, I would fade the rally
Earnings before the open tomorrow: ($M $NVAX $BDSI $TTNP $WEN $NCLH $KITE $DISH $GGB $INO $EBIX $IONS $CROX $USAT $OCUL $KERX $EGRX $STON)
All I know is that's a Wyckoff Spring if I ever saw one. Panic on the sell-off quickly turned into heavy covering as sellers realized they're on the wrong side of the trade. I could try to theorize what it means ..... possibly a Hilary win after the market was calmed down by the FBI clearing her ...... but essentially it's irrelevant. The pattern is the pattern.
Just bought my last bits of long volitility. Won't take anymore. And won't be doing this again. I don't really like being directional like this. I prefer just selling volitility and letting stuff so whatever it does. Less stress. Can't wait for this to be over.
The futures market is incredibly schizo tonight. 20 down then 20 up. Gotta have a lot of courage to buy or sell /es futures.
