Comments on: SPY Trade Update

By: glen55867

glen55867 — Tue, 26 May 2020 13:46:31 +0000

In reply to t.burda01. yes I was looking for that same answer

By: t.burda01

t.burda01 — Thu, 21 May 2020 14:02:59 +0000

@rsotc, Can you confirm that this official trade has been closed? I believe it stopped out yet I have not seen an official post confirming it like you have with other official trades that have been stopped out. I understand that this has been a frustrating trade, and I am just looking for some clarity. Thanks.

By: FooHawk

FooHawk — Tue, 19 May 2020 01:39:16 +0000

In reply to Action_Jackson. I expect some really bad Q2 earnings and no they cannot pull guidance again, unless we end up in lock down again. My thoughts are we do not see a meaningful pullback until Mid July. Just MHO.

By: Nana

Nana — Mon, 18 May 2020 20:55:05 +0000

@rsotc Randy, By any mean do you think SPY may go till 400..as everyone talking till Sept. 2020 market may drag Upward....

By: Araleia

Araleia — Mon, 18 May 2020 20:42:29 +0000

In reply to Copec. Yes, making money in the market is not about trading everyday. It's about patiently waiting for a setup and going for it when it materialized. If it's wrong, stop out fast with minimum loss.

By: Lee

Lee — Mon, 18 May 2020 20:25:05 +0000

In reply to Araleia. Totally agree, they wipe out all the put walls, burn bears then bulls, maximum pain. I dont trust a market bought mostly by retail and algos, while the smartest smart money is bearish, dumping. They may not be shorting anymore but are dumping. Was looking for bit of rounded top myself

By: Copec

Copec — Mon, 18 May 2020 20:23:58 +0000

In reply to Araleia. You have quite a bit of patience!

By: Nick_SemperFi

Nick_SemperFi — Mon, 18 May 2020 20:20:09 +0000

Randy, what did you ever do to SPY to get it to hate you so much?

By: Araleia

Araleia — Mon, 18 May 2020 20:18:35 +0000

The last 10 minutes of trade gave all the indices fake outs and double tops with the VIX based out and gone back to 29+. I would not be surprised if futures start dropping tonight after the market reopens. When the last bear gives up, it’s time for the market to turn. If the market gaps down tomorrow and gives island reversals, that’s the sell signal I’ve been patiently waiting for.

By: Action_Jackson

Action_Jackson — Mon, 18 May 2020 20:11:20 +0000

In reply to Drew. Yes, it basically means if there is any upside tomorrow it could be stopped out. This has been an agonizing trade and I'll be glad when its over. I don't see a need to go long at this point and will sit out for a while. I can't imagine Q2 earnings being good but they can't pull guidance again can they? It will be interesting to see that play out.