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2/5/18

Panic Button

YM Daily

The chart above is what I have been using to try to stay aware of what the market is doing from a macro perspective. The world knows that the market has fallen fiercely, does that mean it's time to put on your bear suit? To be a buyer or a seller, it all depends on your time frame and strategy. I'm attempting to slow trade this market and not be freaked out by the drama. Who would be surprised "if" the market rebounds back into its previous bullish channel in the next few days?

If I stay true to what the technicals are saying, this is still a bull market... on a daily chart. Pros buy support so the hedge funds and HFT will be looking to buy on a discount leaving the rest out of the party still shell-shocked. We all have our breaking point where we are ready to tap out and say "No Mas". My pain button is just below YM 24785, I expect we all will learn where this market will go this week.
















4 comments:

  1. It was a blood bath today for longs. I thought Friday was bad! Hope you fared okay or at least didn't get cut too bad.

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    1. MBA, my option position have taken a beating, I've been long since Jan 30th. Hopefully time is on my side, positions do not expire till April, Jun and August.

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  2. that's a mighty good position you've got there trin! rootin' for you bud!

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    Replies
    1. Thanks Rhiese, this crazy volatility reminds me of 2007-08.

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"Better Trading Ahead!"