Market still whipsawing, and it did turn around when I told you guys it was overbought.
I market the upper and lower bound of this whipsaw, I think it breaks bottom because it's got a long ways to go before it gets oversold.
Europe has been really difficult to predict, ECB meeting tomorrow morning before US markets open. That will determine the gap direction.
As usual I'm just shorting garbage lightly, no long positions right now. (Like none at all.) Makes more sense to do small one directional trading instead of a large hedged position since the market is whipsawing. The options premium will kill you on a large hedged position if the market keeps going sideways.
M indicators are working well aside from gap direction, so I might just go big on daytrading and not worry about the gaps.
I market the upper and lower bound of this whipsaw, I think it breaks bottom because it's got a long ways to go before it gets oversold.
Europe has been really difficult to predict, ECB meeting tomorrow morning before US markets open. That will determine the gap direction.
As usual I'm just shorting garbage lightly, no long positions right now. (Like none at all.) Makes more sense to do small one directional trading instead of a large hedged position since the market is whipsawing. The options premium will kill you on a large hedged position if the market keeps going sideways.
M indicators are working well aside from gap direction, so I might just go big on daytrading and not worry about the gaps.
Not really sure I care, all I got are CASY and PTON puts and the both expire next week, not Friday.