LOL the whipsaw continues
RSI hit overbought with MFI divergence like I said yesterday afternoon and promptly rolled over. I said inverted H&S yesterday but my indicators aren't anywhere close to oversold yet. Wish I had trusted my overbought indicator and bought puts EOD yesterday, but I expected a 3 or 4 day short squeeze. That rule has saved my ass multiple times, but not today, lol.
If the market goes down tomorrow, a lot of garbage stocks will lose support like PTON, AFRM, CHWY etc that have been bouncing off support for the past week.
RSI hit overbought with MFI divergence like I said yesterday afternoon and promptly rolled over. I said inverted H&S yesterday but my indicators aren't anywhere close to oversold yet. Wish I had trusted my overbought indicator and bought puts EOD yesterday, but I expected a 3 or 4 day short squeeze. That rule has saved my ass multiple times, but not today, lol.
If the market goes down tomorrow, a lot of garbage stocks will lose support like PTON, AFRM, CHWY etc that have been bouncing off support for the past week.
Commentaire:
Not really sure what to do here, lol. Everything is down too much to short but I don't expect a pump until futures get oversold.
Probably gaps up tomorrow, might short that with next week's puts.
Probably gaps up tomorrow, might short that with next week's puts.
Commentaire:
I should've just stuck to shorting PTON, lol.
Overthinking the market. I snagged some IRTC puts though, sticking with monthly puts, not sure what the market is doing
Overthinking the market. I snagged some IRTC puts though, sticking with monthly puts, not sure what the market is doing
Commentaire:
Note: This is why I don't look at price or support levels, there's definitely people buying at support but neither MFI or RSI is oversold yet so more room to the downside before the next pop.
I do not recommend going long until BOTH MFI and RSI get oversold on my 3 hr chart
I do not recommend going long until BOTH MFI and RSI get oversold on my 3 hr chart
Commentaire:
NOT oversold yet, wait until tomorrow if you have the balls to hold a long position over the weekend.
I can;t recommend going long until Monday since Russia might actually declare war Monday
I can;t recommend going long until Monday since Russia might actually declare war Monday
Oh well, I expected a reversal pattern today, not a full tank