I think we get there by May opex ... if we get there by tomorrow we're in trouble, again. If I could pick a pullback low in advance it would be right around 2659 ESM. But I wasn't thinking it gets there today. I'm thinking a nice orderly pullback lasting about two weeks. And two weeks takes us right into May Opex.
And found in the work it shall be. I figured your PM box gets pounded due to your obvious success among other things. Glad I didn't. Thanks again. Time to get to it. Super helpful speedo! Thanks for weighing in on the matter with your own advances and experience. Much appreciated.
Was reading back through some older posts and must have totally forgotten to respond to this. Apologies and such... Well as I said a few weeks back I'm just returning to back to the world of trading/investing so there is no shot I'd try my hand at the minis right now. For just a little historical context I tried them with $10K on TradeStation back around the financial crisis (brilliant I know...). My dad was rocking his 401K through the tech bubble when you could actually get away with moving it around and doing more with it. Eventually my older brother got into day trading equities for years (of which I participated in for just a few short years going into my e-mini blunder...) - ultimately didn't end well. That's what happens when you don't know what you're doing and refuse to quit without making the correct adjustments (Einstein and such...). I don't remember exactly when he had to abort but I don't remember it being too long of a period after I got smoked for my entire futures account. I was like 21... young and naive so the outcome was obvious looking back now. Anyway I'm making other adjustments in life and will get to instruments like the ES eventually. For now since I'm just recently getting reacquainted and trying to work with what I've got in my brokerage account (non-margin) / IRA. Just trying to take advantage of some current market volatility but being careful because I obviously have a lot of studying to put in first. Ultimately as far as trading goes once I really get active - I think I'll start running smaller shares of the SPY and move the # up as my confidence and results improve. Then I'll look at futures etc. I may try MES in between there but I remember @NQurious recommending someone go the SPY route and them move towards ES so I think that's what I'll shoot for for now. Currently I legged into SH (seemed fatter and safer than some of those sketchy light volume super levered inverses) at 2850 and 2910. Had one last leg set for a shot higher but couldn't get myself to pull the trigger at 2950 (thought it might go a bit higher). That's ok - i'm looking good here anyway. Again sorry for the late as hell response. And sheesh... looks like I need take a breather from these encyclopedia-like posts eh? Thanks for this awesome insight. If I'm looking at the chart and understanding you correctly... that puts us at "a" of the 2 legged break currently?
Naaah I'm good... B1 likes me again. I called your boy Biden senile down in the cellar a few times. Plus I said Maga hats were flying off the shelf in Huntington Beach.
You have a good source. CL was fairly strong last week, but now has opened very weak. Possibly there was a lot of short covering last week....dunno. The big wild card is what Trump is going to say and when he is going to say it....via tweet or announcement. He has already said he wants to protect "the great oil industry"....as well as burn the shorts. He's likely taking a chapter out of Elon Musk's book of gunning the shorts.