Indices & ETFs

My LT and MT SPY puts are red too :slight_smile:

YOLO:
Long 2 SPY put(May17 $415)
Long 5 SPY put(May21 $410)
Long 10 SPY put(Jun18 $405)… 168 is good number

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I bought 20 QQQ put spread Jun 18 312/307

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your fav panda posted :grinning:

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Panda is a naughty bear… always messing around with your head… What he said I already know… my problem is I hesitate all the time… anyhoo, if next week no bloodbath and no new ATH, can throw few thousands again… return is 10x to 100x, so can try 10 times :slight_smile: If new ATH, back to drawing board.

Btw, first gap is closed, 2nd gap is almost close… so Monday close it or close 1-2 weeks later. Unless a new ATH is established, bearish count is unchanged… remember wave two can retrace 99% of wave one i.e. can get very close to wave one ATH.

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The face-ripper guy said today the bottom is in for his “epicenter stocks”. Click link below to watch his CNBC interview.

:rocket:

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I see you’re looking for “evidence” that bottom is in. Anyhoo, I have tons of cash standby… if true, I would pump all back into high growth tech stocks… I have 1 share each now… or may be just buy ARKK, too time consuming to analyze so many stocks… follow the price action, not fixated on forecast or look for evidence that support your belief…

Panda is kind enough to post his thought of where we are now :slight_smile: Is wave (2) of the LED. You can call him bold or arrogant*, if true, Monday to Tuesday is DOWN BIG. Monday may or may not open down because wave (2) didn’t hit the max retrace of 82% (recently, wave (2)# tends to go that high, killing both stubborn bulls and clumsy bears).

*As far as I am concerned, far better than those who only know how to criticize but didn’t offer any constructive suggestions.

#For those new to EWT, wave two can retrace 23.6% to 99% of wave one, a very wide range, commonly, 50%-61.8%. Recently, I notice tends to be 61.8% to 82%. In a very strong bull market, I have seen 23.6%-38.2% being very common.

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You could have put @manch instead of wasting 3 lines :grinning_face_with_smiling_eyes:

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Warning people not to walk over that cliff is pretty constructive advice I’d think.

:rofl:

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Look like shorting QQQ is more profitable than shorting SPY.

Tech stocks and QQQ are breaking down, SPX/ SPY still showing strength and might even make a new ATH (SPX 4244-4274, didn’t hit inside this zone at all, max wss 4238).

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You’re bearish now?

+70%
+42%
+23%

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Down 0.35% so far. Is that considered to be DOWN BIG?

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+70% is not big? Adjective is subjective. Big or small is up to you :roll_eyes: Frankly, I don’t like to use qualitative, but since liberals love them, I use them. Personally, I like to use numbers only… adjective is too subjective.

Anyhoo, I have closed those day trading position.

Just bought 10 SPY put (Jun 18 $410) :slight_smile: for another day trade.

https://seekingalpha.com/article/4429386-3-bubbles-ready-to-burst-institutions-handing-the-bag-to-individual-investors

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Author didn’t say best is to go into cash even though there might be a new ATH (the reverse would be sudden and swift) or go short. Author says buy value stocks but the truth is nothing is spare… short SPY means value stocks are shorted too.

My best guess of what Panda is thinking.

Current position

ST: Switching between long SPY calls and puts. Sometimes SPXU and UPRO.
Status: No posiiton

MT/LT short position
LT:
Long 30 SPY put(Mar31 $285)
Long 10 SPY put(Mar31 $360)

MT:
Long 10 SPY put(Sep30 $400)

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I know what he’s thinking: “OH CRAP!”

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Screen Shot 2021-05-18 at 12.53.43 PM

I see you have another DOWN BIG days coming.

:thinking:

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