I think we'll get a pullback, but the longer charts and the head fake/ bear trap are so strong, I wouldn't want to get caught on the other side of that.
I'm guessing we are in OP-EX Pin territory now, I'm also guessing around 2 p.m. after most contracts are closed the market will pull the shorts in with an intraday decline, again, I imagine Monday would be another move in the market, this time keeping the psychological (fear) pressure on the shorts and forcing a larger squeeze that gets us over the apex.
These quick gains are great, but the real trade is above the apex, for both the long positions and eventually the shorts.
I only close out Calls/Longs because the momentum today makes today the most profitable day for that specific call, a new one can always be started.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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