Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
SPX has taken a hammering and we have seen some extremes in Price Action that are potentially indicative of exhaustive move to fade in coming week/s . Friday was the 9th consecutive day close was lower than open with that extreme the highest since Lehmans collapse in 2008 . 60 day drop from highs another extreme level and stocks above the 200dma under 20% . These levels are areas where i begin to look for a bounce . Will update some charts when my platform is back on line
All in the same theme . That buying while most are crying ' thing ' with appropriate risk management of course
A key take away here is 2008 lehmans collapse is where much of this would fail , outside this its not the worst place to have a ' go ' . Risk is clearly harder to manage in this volatility and must be taken into account , smaller sizing goes part way to addressing that .
Well didnt expect 6.5% move of lows inside a day but i will take it . 10% might be conservative . Outright longs and some way OTM Jan calls looking sweet , not so OTM now