Looks to me, market is waiting for today GDP data,went down expecting worst data, and bounced after that…hmm, no freedom press informed us ahead !
I am confused. The GDP numbers had been broadcast (and leaked) for weeks now and came in as expected?
1 Like
Still have SQQQ hedge on, will close after election. Prefer to lose $ for the hedge 
hmm, i am out of date in that case, can you post link (leak)? Normally, press reports expected GDP numbers, but not leaked.
The current one is just above the expected (not a major break).
Sold all aapl calls (without waiting for results…) except LEAP calls (Jan 2022 115 calls)
1 Like
Too lazy to post links, it started about 2 weeks ago when Mnuchin leaked it in a bloomberg or some other interview, after that every publication has been talking about it. and there were a number of posts yesterday (including on bloomberg and marketwatch) to not read too much into it as the number will look very big because of the wierd way the US calculated GDP.
And even if you didn’t read all that, you can follow the different Fed twitter feeds such as the Atlanta and NY Fed feed or their websites where every week they do a snapshot of GDP growth.
So not a surprise to anyone tracking financial news/twitter feeds.
1 Like
I was bothered about this morning’s GDP number as I was pretty sure the leaked / speculated number was 35%. did some digging around.
here’s a link to an older article that says 35%:
so the actual was lower then forecast. surprised market actually went up.
1 Like
I saw GS estimate previously,
Here is the link https://www.cnbc.com/2020/10/29/us-gdp-report-third-quarter-2020.html
You see my yesterday update [posted at top], I was skeptical about bottom and bought lot of AAPL stocks/calls than betting on S&P.
Today, I understand market reacted for potential GDP futures and turning upside is getting confirmed. If market goes one more day positive tomorrow (very likely), then we can confirm the bottom (after the fact).
Good I bought almost 80% almost yesterday.
1 Like
80% commitment of ? AAPLs? TQQQ? UPRO? All kinds of stocks?
Anyhoo, increase hedge slightly i.e. bought more SQQQs.
QQQ needs to break above the upper trend line! That is, above $281! at the end of the day.
Pray for no sell the f… event for AAPL.
Instead of SPY, I made lot of AAPL calls.
Stocks, No 1 is AAPL, then TQQQ, PYPL, TSLA, STNE, MRNA, T (AT&T) and FSLY (holding 5% loss).
Today, I sold all short term AAPL calls and bought more TQQQ.
Now, I am holding few AAPL Jan 21, 2022 LEAP calls now.
1 Like
Thought you have the system to identify bottom. EWT indicates that wave ii can be from 23.6% to 99% which is of not much help when the degree is higher than intermediary… absolute dollar is too large… If it is of lower degree and you’re in the wrong trade, can easily ride over it.
Meanwhile QQQ continues along its downtrend channel. Neither breakout or breakdown.
1 Like
Finding the bottom is the hardest part for me as it can create false alarm many times. I really struggle on that part.
But, finding the top is easy part and I can easily spot 95% of top and remove to cash position.
Wrong bottom is a killer.
Fib is an approximation, again eat away of our money and is equal to wrong bottom.
Sometime market comes to double bottom and the gap between each bottom is 5%-7%.
The best possible way to find out bottom is after 3 days of bottom reached which is waste.
Super Kangaroo jump is too good, but may be false alarm.
1 Like
Well, my way is to identify bullish divergence. However, quite often, I jump the gun without waiting for it to happen i.e. expect it to happen or vaguely look like one. Need to learn to be patient 
for it to confirm.
You need to find a hobby that is less costly. Maybe get a girlfriend on the side.
3 Likes
The easiest part for me is to find 3-5 days before the top (max loss may be 2%-3% on gain) and definitely 3 days after the bottom (3%-5% above bottom).
In between I play without patient, that is wrong really.
Everything based on the algorithm (not the freedom press statements, neither JC).
1 Like
Ed Yardeni of Yardeni Research joins CNBC’s “Halftime Report” team to discuss how he views the market sell-off and how factors like tech valuations, the upcoming election and surging virus cases play into his strategy.
Market is going up no matter who wins the election: Ed Yardeni
Still has similar view or has changed since?
This is right , market is aiming for it, big jump after election results !
But, later market will adjust long term growth or recession depending on the policy of new government whoever it maybe.
1 Like
There you have it total uncertainty. Market goes down for awhile
1 Like
I don’t know how you guys day trade. I would go nuts. I just sit and wait.
1 Like