I had actually drawn this up earlier and didn't publish it, but here's the target for the futures pennant fail.
In any case, market got all pumptarded for nothing, the only deal they made with China is to talk some more before bumping up tariffs.
Anyways, remember the market is coming off an overbought condition.
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This weird slow motion gap fill is just another opportunity to add to short positions, all indicators are bearish except for the 5 min intraday got oversold, I suppose that's worth a bump.
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I could be wrong, but I'm expecting the market to close the gap from the Thursday night futures pump. They're still negotiating, nithing has really changed.
Just another Chinese stall tactic.
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There's an intraday gap at 3:54pm, so expect futures to close that gap tonight, which means it will go up at some point tonight.
Euro stocks look like they want to go up, so I flipped my IWM puts at close. Still short on a few stocks.
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Intraday gap filled, because all futures gaps fill "by law".
I get this odd feeling that the market is going to gap up tomorrow.
Holding up 30% on short puts in bear spreads! My long positions holding in the green. Let's see!
hungry_hippo
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@DaddySawbucks, I dunno, seems like it wants to gap up but technicals show that the market should go down.
About half long/half short on vairous stocks for tonight.
DaddySawbucks
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@hungry_hippo, Good call HH. Another short opp IMO. Technicals are weak, looks like pump 'n dump. I could be wrong... wouldn't be the first time!
hungry_hippo
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@DaddySawbucks, looks like a Fed pump and teh exhaustion gap happens tomorrow.
Was even in the morning so I closed everything except 2 positions, one shot one long. No point in holding a lot of options just to be even.
DaddySawbucks
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@hungry_hippo, Right on. I'm in the red now lol but Friday PM will be black if prices hold here and shorts expire. Trades at TL on a lower high.
DaddySawbucks
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@hungry_hippo, Yeah well one moar day like that will finish me off LOL... selling afterhours IMO today was the exhaustion gap.
We got a lot of gaps to fill back down...
hungry_hippo
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@DaddySawbucks, I gave up on the shorts this morning while I was still even. Closed the IWM puts yesterday, I figured it was gonna gap up, and the stocks I was watching didn't throw exhaustion gaps so I didn;t go short today. The stocks I;m watching look like they need one or two more days, will decide on shorting stuff on a reversal.