yeah, SPX hit the turbo button....glad I got out of my put options just in time..scalped a little, so happy I didn't get caught in the bounce!
Nice I went long on SPY after the pullback on the North Korean news earlier in the session, took profit and completely out now, I definitely left some money on the table lol
This market could go parabolic to close the year if the Congress manages to pass the tax bill by EOY, a big if but right now the market seems to think the Congress will get it done.
I tried to go long on that bounce too!...still trying to learn this new brokers platform, so I am too slow to change directions on my trades...lol
1) Tax bill vote is delayed –> markets drop 2) Tax bill does not pass –> markets drop 3) Tax bill is passed –> markets drop because the benefits won’t be seen for at least 6 months, and it “raises the debt “. I seriously think we’ll see a pullback, catching stops on the way, and another possible move to ATH again. But who really knows....just a hunch... Remember, Yellen is testifying starting today@ 10:00, so stay on your toes.
Payment processors correcting (V, MA, PYPL, SQ), was surprised to see that, these guys never have bad news.
TVIX and UVXY only up 2-3% right now. Almost like you need a market-wide meltdown for these things to do something. But I guess this was a controlled correction in stocks that have run up.
I had a thought.. which is strange. If we had to see a big drop in the stock market, would that affect bitcoin? The initial reaction is no, of course not, they are unrelated right? But if enough people are long bitcoin that also have stock portfolios decide they want to move out of a risky asset like bitcoin, and into a relatively safer less volatile option, it could lead to a stampede out of bitcoin too.
SPY VWAP rejection....more profit taking on the horizon? It did bounce off center pivot, so there' some support there...if it breaks thru that, watch out below 262.13
Wow crazy move Maybe people are buying them for tax reform, those trucking and railroad companies pay pretty high tax rates
yeah there's been some wild ass moves in the other majors as well as a result of tax reform ... the nasdaq for example is down a full -100 handles today while the other majors are either flat or higher (or significantly higher like in the case of the trannies) ... i don't really remember the tech bubble days much but i suspect the last time we saw this kind of divergence in the majors was back during the tech burst in the early 2000s
dow theorists with a raised eyebrow after today's action ... you'll have both the djia and djta with new closing highs
Well, Yellen didn't spook anyone with her "20 trillion debt should keep you up at night" comment....she must have been short this market...lol
