out that one here for +10 ish still got some longs on, but quite light so will be kind of annoyed if we rip up now and gap up 30 points tomorrow, even though i'll make some moeny from it Would love to start re-adding longs 20 points lower or so! Probably won't happen unless we get some bad news hitting the wire or something though
No, nobody is saying it will not tank at some point (see the last few months, who could have endured that drawdown with any kind of leverage). What we're saying is that - when it comes to equities, stocks - there's a clear and persistent upward bias, which makes it way easier to trade the long side, often even in bear markets. But to each his own, best trading to all.
these equity index futures margin is too damn high, es is 22k at amp, double from few years ago. mes volume is higher than full es, nothing good can happen to the mass. they ought to make es $500 a point.
Don't misunderstand me. I don't fight the FED trend. But I also don't like to let downtrend days, no matter how infrequent, go by without a trade or two - if I get signal and setup. Strong uptrends have a way of lulling traders into believing the nonsense all dips get bought. Then there are also the chop back and forth days to consider. I did a quick check and the ES ATR (21) - representing a rolling month - is around 68 pts. During the past 21 trading days there were 7 days with ranges less than the 68 pt average. Either unchanged, up a little or down a little. Again if I get a signal and setup, to go long or short, on one of those days I take it. A few of us in this topic hold overnight. Most, myself included, I believe don't not. I sleep well because of it. + + + Now there might be something that will change all of this for me. If you have not heard yet CME, starting this coming Monday (Sun Globex session) the "latest greatest" product of theirs - spot futures QSP S&P symbol. They had a webinar earlier today that should be uploaded on their site soon if not already with all the details?
Spend the day away from the internet, come back, and we're at new highs. Crazy. Wellness check on @schizo?
What happened to the Most holy Reverend Schizo? Also did Buy1 disassociate or ask to have his name removed from the journal?