lol ya i thought it was absolutely comical seeing the initial reaction off the report ... it was like the market didn't know WTF to do with that # good news is good news? bad news is good news? good news is bad news? bad news is bad news? oof my head hurts! that's what a fed induced market will do for ya i guess ... what a joke this has become imho ... sigh
Here's my anecdotal piece on construction in my area (Philly suburbia) It's still nowhere near 2007, most local construction has been geared around downsizing the number of schools in our district. Building one big school to dump 4 - 5 other schools which I'm sure will get sold off or torn down. Nothing really big in the way of new developments or commercial areas. There is a nice high-rise going up in the State College area (Penn State) to add badly needed hotel space, but we all know about the college bubble, and construction in that area can't keep up with demand at all. There are a few major projects going on, but the school is by far the heaviest builder. From what I've heard and read about in the news though, Philly is still a kind of recovering market and really the only affordable coastal city anymore. I've heard insane things about real estate in the west and legal weed states and that seems to be where there's a foreign investment and migration forces at work. Also heard a lot about areas like Boston and NOVA area getting expensive, you'd think construction would pick up to help demand, but I guess not.
Yen having an insane candle day. Miners gapped up big. KGC gap up over the 50. Why did I sell again??? I still don't think a W5 will happen without mindless greed. This jobs report is thankfully a slap in the face. We don't want a W5. The aftermath would be terrible. I have kids, so I care more about long term stability than short term opportunity. This global stock market is acting normal, just like our global weather!
Needed some work, and got it...on the day I really wanted to trade ( 1st friday of the month is always a good day trade ). Guess I'll have to wait til next month....ugh
I love Fridays like this myself. Everything I bought this morning has turned back up. Maybe I should be a day trader versus a swing trader...Nah swing trading is more layed back.
go NUGT its ya birthday its ya birthday!!! 30%!!!! heeey just want to say i love each and every one of you, thank you! on a serious note, yellen speaks at 12:30est on monday i think. will be very interesting to see if she is still hawkish or not.
My flaw as a day trader is I just have too many plays...I would be a nervous wreck trying to keep up with all my trades. Even on the swings if the market changes drastically down, I am changing most of my buy orders. I will leave the day trading to you guys that have the patience and discipline to make those trades. By the looks of things you are doing good!
The problem with day trading is that most tradeable action tends to happen in the first hour or two of trading, before it generally becomes scalp action with the algo's and HFT's. The other thing is even with a rigorous and encompassong system, some days you'll stare at the monitor for 8+ hours and have no trade come up... it can be hard to look at the market all day and do nothing. On the plus side, day trading with futures can be great. You can get out overnight or enter without dealing with amateur hour spreads, and you can play multiple instruments with high levels of workable margin. In this way you can play crap like /ES, /GC, /CL, etc against each other and compensate for losses in one instrument with a good day in another. One bad trade doesn't ruin the day. Besides that, at the end of the trading session your P/L is fixed and nothing to keep someone awake at night. Swing trading is great, too. Usually risk/reward is heavily favorable, plus you can keep a day job. Plus, why scrape by making $300 a day when you can play a 50 handle /ES move for $2500 in one week. The only issue is having your stop taken out while sleeping or such, and sometimes swing trades just don't develop for months on end on commonly traded markets. I dunno, the little bit I tried to swing paper trade the /ES I didn't lose once.. a monkey could do it the past few years. Wait for the capitilation and watch bears get rekt, earn a cool 50 - 100 points profit for catching a knife with 10 - 20 handle risk. Using simple low volume nodes could pinpoint a 10%+ correction down to a few handles of the bottom tick.
me and gil talked about the bullishness in this market earlier in here, i had a feeling they would brush this off, although the stock movement underneath the indexes is back to the fear trade. my T was up nicely today as well as the REITS, utilities etc.
Yeah potentially. However, with gold's this pace, if Fed stays hawkish for July (which I think they will), then it will become a sell the news fiesta. I think it will come down to the result of Brexit. I won't have any position with gold until then.
My swings last from a few days to a few weeks normally. Most of the time I can set my buy/sells and go have lunch or what ever. Of course I take my cell with me and if something that needs my attention then I can make changes from the cell or my Chromebook (if I have wifi) or head back home. I normally hold my biggest buys for the market meltdowns for good ops. If I see a good op I move in according. Unlike day trading I usually do this with tier trades. As I get a 100 free trades a month this compliments my style of trading. Today was one of those days for the buying ops.
Someone buying front-month $35x calls on $PODD only 2 weeks away. Maybe some event coming. We'll see. https://www.techtrader.ai/wall/?date=1464957663&post=9489 PODD 6/17/2016 35x Calls, 3083@$0.4 MV: $0.1M | $Not.: $1.8M | OI: 1196 | 43.5% TotalOI 63.5% StockVolume | 58.6% OptionVolume
