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Jysin

Jysin

Ahn'Qiraj Raider
6,491
4,505
Bounce coinciding with Fed Waller comments:

"Time to take action"
"Open to frontloading rate cuts"
 
Jysin

Jysin

Ahn'Qiraj Raider
6,491
4,505
Youre braver than I.

I am interpreting Fed comments as a bit of a kneejerk reaction. They are behind on cuts. The cuts are for the wrong reason. (Slowing labor / consumer)
 
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Jysin

Jysin

Ahn'Qiraj Raider
6,491
4,505
Get those QQQ / SPY 5m candles above the 11am high and I will join you.

That's my intraday confirmation on this bounce.

VIX is not calming down.

Fantastic volume on the reverse candles though.
 
Rangoth

Rangoth

Blackwing Lair Raider
1,781
1,895
So..... yea, I also dumped that roll I posted yesterday of SPY:

1725635506764.png


It filled @ 7.39, over 30% gain!

We are hitting the resistance line of 542$ and already bounced off it once earlier today. I'm not super confident we will break it so wanted to take my profits. Agree with the rest of the group here in that I am not quite ready to jump back in either way at the moment.
 
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Big Phoenix

Big Phoenix

Pronouns: zie/zhem/zer
<Gold Donor>
46,666
99,500
Jysin said:
Youre braver than I.

I am interpreting Fed comments as a bit of a kneejerk reaction. They are behind on cuts. The cuts are for the wrong reason. (Slowing labor / consumer)
Click to expand...
If the economy was doing good there'd be zero reason for rate cuts.

Coming out and saying we need huge rate cuts fast is all but saying the economy is awful or about to be.
 
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Jysin

Jysin

Ahn'Qiraj Raider
6,491
4,505
Bulls really need to assert themselves now, or this is turning into a bear flag for another leg down.

Especially with the VIX unrelenting.
 
Foler

Asshat Foler

2024 FoH Asshat
<Gold Donor>
48,194
43,397
And I’m holding cash until further notice. My QQQM total position is now in the complete red. I don’t have the balls of Blazin Blazin to load up and average down. Kinda don’t feel like touching QQQM for a while
 
C

Creslin

Trakanon Raider
2,505
1,151
I missed buying back in on the Covid crash badly after a really well timed exit in Jan 2020. It has made me rethink strategy a lot over the years. It took me until the start of this year to really end up in the same spot as if I just held spy through the crash.

I now think the best strategy may just be to pick a point off the all time high and buy back in at that no matter what you think. Like qqq 30% off it’s high and buy no matter what.

my feeling there is most bear markets hit a -30 reliably and most don’t stay under that mark all that long if you wait until you feel good about the market you already miss the window.
 
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