Comments on: Rally Time?

By: TRW

TRW — Fri, 12 Jun 2020 05:52:21 +0000

Thanks for the analysis. The most useful thing you said was that you had reversed your index shorts to longs just before the end of day.

By: Araleia

Araleia — Thu, 11 Jun 2020 22:04:07 +0000

In reply to Action_Jackson. A lot of those FOMOs bet their stimulus checks. bought stocks and margin their accounts for more. If they think this is just pullback for newly formed bull market, they will buy the dip. Problems will come when the market keeps dropping and they run out of money for their margin calls. The sell everything mode in March will happen again, and this time will be worse than the last, and they will be in debt for years to come.

By: aturchin

aturchin — Thu, 11 Jun 2020 21:19:45 +0000

@rsotc, any thoughts on ES bounce targets. Or advice on how you take profits/reverse in real time? thanks, andrew

By: wilhud

wilhud — Thu, 11 Jun 2020 20:20:35 +0000

Awesome commentary today Randy and holding the line when everyone was losing their heads. Wow what a day.

2020 is definitely one for the history books, crazy on so many levels.

By: Ken

Ken — Thu, 11 Jun 2020 20:13:27 +0000

In reply to rsotc. Hi Randy, SPY closed below 301 and below the 302.5 support, so does this mean that we will see 295 soon, perhaps tomorrow?

By: becky

becky — Thu, 11 Jun 2020 20:12:54 +0000

In reply to rsotc. Unacceptable man, expected the market wrap 5 minutes before the close so I could coordinate my moves for tomorrow. J/k I sit tight, hoping for a bounce to re-enter shorts. What a day.

By: Action_Jackson

Action_Jackson — Thu, 11 Jun 2020 20:03:01 +0000

Randy, I’m guessing if the rally was fueled by all the newbie retail investors they are freaking out right about now as AAPL has fallen 5%. This may be a sock to them. I would bet most of them will take profits. Maybe the bounce will not happen. You have to agree this market doesn’t act normal!

Thanks for the TVIX trade. I stopped out and then got back in lower for wash.

By: Tom123

Tom123 — Thu, 11 Jun 2020 20:00:37 +0000

Thank You could you also update /CL in your market wrap for today?

By: rsotc

rsotc — Thu, 11 Jun 2020 19:53:25 +0000

In reply to crlists13. I plan to. Market wrap should be posted between 5-6 pm today

By: rsotc

rsotc — Thu, 11 Jun 2020 19:52:31 +0000

IWM has fallen 10% in the past 2 sessions to a very solid support level where a bounce or at least a consolidation is likely