Man, it's Tuesday now, the next day...had to finesse my trades as I added in on the collapse. It's at 5840 but had collapsed to 5732. I managed to exit everything around 5835 at break even. Now, I need to reassess. Didn't expect that utter collapse yesterday and today.
The SPX is hovering around 5800. I want to enter, but...something seems off here. It should be good value, but it seems strangely "hovering"
I feel like buying at SPX 5700 is what makes sense. But the gambling instinct makes me wonder if entering at 5780 is not a good idea. And in many cases, it might be. But, capital preservation is not entirely stupid, either.
welcome back frank! it’s really good to see you posting again. i've been mia from the markets for a bit but should be making a return pretty soon.
Got it. https://stocksforums.com/. Looks like i have to sign up there and not just log in. Trying to get my bearings
think we get the nfp’s tomorrow AM. i’m wondering how much of the bad news is now priced into this market. the nasdaq recently entered an official correction. i think the spuz will eventually follow. looks like that spx 5700 is just a stones throw away now frank. a good call as usual.
Yeah, it got close to SPX 5700 [5711 to 5812]...I kept entering and existing from 5720 to 5750...and earlier 5755 to 5810...a lot of "day trading"...but successful...trying to get the hang of that...less emphasis on swing trading in this volatile environment...it's pretty interesting working that switch, but it seems the right thing to do these days
I exited all my positions on Friday. Looks like the ES is collapsing. Cool. I may enter tomorrow at a more meaningful level
wow it's been a while since we've had a trending down day. basically you had the market open lower and just kinda cascading down throughout the course of the day. i wonder if we're getting closer to some capitulation bottom. but, tbh, this still feels a little too orderly to me. still not real panic imo. let's see a vix spike up into the 40s and 50s then maybe we're onto something of a short-term bottom. we shall see.
btw, here is just a quick visual of the markets pullback levels from their respective 52wk highs for those keeping score at home. as was mentioned last week, the naz had recently entered an official correction. the spx is just about 1% away now. rest of the market basically in a correction (for now) however.
it'll be interesting to see how this correction plays itself out. tbh, i'm feeling a little skeptical this actually makes it into bear territory. unless it's like a flash bear like we saw during covid lol.
nice entry. getting a bump here in the final hour as of now. looks like that break below 5600 just a bit ago got a little too oversold in the short-term.
It hit 5549 this morning...that's actually a nice entry point area...if it goes down again, I'm entering at that point. It's around 5595 now
