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Hey Nerds: Blockchain

As usual, spy is heading towards the latter print. Only problem is, there is another print at 322 that hasnt hit yet.

So I may not short at 309.
 
GTII with a 9% day. Kept averaging down all the way to their all-time lows which they bounced off of. Got more and more aggressive as I saw a historically low daily RSI. Sold what I need to sell and keeping the rest. Came out of the whole thing ahead somehow.

I knew it would bounce just based on basic TA but man it was getting a bit scary wondering where the fuck the bottom was.
 
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I just shorted ES for 10 points from 3092, but really not doing much. Taking advantage of the rally to lighten up on my least favourites.

Account values have barely budged, which I'm ok with. Like me, they could use a break.
 
So I saw a bunch of people pumping this shroom stock MMED thing with Bruce's name attached to it and I was like.. I bet you that shit pumps and dumps. I look today and wudya know, up 80%.
 
any down draft should start soon, so they can ramp it back up near the close
 
People are buying a shit ton of calls in WORK. It's one of my few long term plays.
 
Pain trade was higher -- glad I hung up my bear suit temporarily
 
Crazy. Not going to get ahead of myself because this corona shit is a real fucking threat, but the chart since bottoming is quite literally exactly what bulls need to see for a sustained reversal. Tick for tick.
 
VIX over 30 is still lofty for bulls to feel comfortable. This was a relief rally for no Commie running vs Trump.
 
If that 322 fake print wasn't there, I would have jumped into shorts at 309 area.

Its crazy how often these fake prints work out. Not 100% of the time, but quite often.
 
Well.. That was some close. Chart-wise this shit looks like the beginnings of a textbook reversal.


But there is some seriously frightening overhang out there right now. Headline risk is strong and I'm not confident that this isn't one big massive bull trap. Be protective out there.
 
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I couldn’t resist shorting that last minute panic buying. Good coin for 5 min trade.

No big positions overnight but I think bulls still face a ton of headline risk.

Today’s massive buying failed to conquer 50% of the correction for both ES and NQ
 
I basically stood pat today outside of scaling out of GTII for a 9.5% gain on the day. When you get 9-10% in times like these, you have to take some profits. I averaged down aggressively enough (which was a very uncomfortable feeling tbh) that I'm above my break-even on them. Wanted to de-risk a bit because I think the next two days could be rocky. And if they're not rocky? I'm probably even happier.

But as always, I'm not done with them. I will buy back the shares I sold if the price is right or hell, I'd even buy higher if things suddenly look less rocky and there's some hype going. MSO earnings season coming up could result in nice relative strength from some of those names.
 
CH1 said:
I couldn’t resist shorting that last minute panic buying. Good coin for 5 min trade.

No big positions overnight but I think bulls still face a ton of headline risk.

Today’s massive buying failed to conquer 50% of the correction for both ES and NQ
Click to expand...
just looking at SPY, it's really all about 313.78. Could be a vacuum up if that's broken.

But again.. The headline risk. It's more than just the charts right now. We're in uncharted waters.
 
This is shorting season, IMO.

I’m seeing so many twitter bears that were once eager to short all time highs getting scared of these huge rips.

Makes no sense. These crazy rips only exist in bearish climates.
 
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