Intra-Day Update: Don’t Get Too Giddy Just Yet
Intra-Day Update: Don’t Get Too Giddy Just Yet
UPDATE 10:13am EDT: Good morning evil leeches. So far the triangle scenario is playing out due to some ‘truthiness’ in the form of bad earnings sinking in. Don’t get too giddy though – the bulltarts won’t give up without a fight and it’s less than 2 weeks until the election, so expect the unexpected. For what it’s worth – I’m using every single rip to load up on puts. Mr. VIX just took the elevator up 10 floors – which does well for the massive amount of puts I’m holding, but makes my shopping spree a bit more costly. Anyway, don’t chase the market here – let it play out a little – I’m sure we get a sharp rip sometime today, maybe soon.
UPDATE 11:35am EDT: Okay, I’m getting really annoyed with TOS lately. I was just informed that $DXY (Dollar index) was not supported on Prophet charts anymore. That’s after they dropped Russell futures over a month ago. I mean we’re not talking some exotic foreign fund here – these are basic symbols. Would be nice to know what the Dollar index is when trading. The standard answer I get is to use TOS charts – fine, then my next question is why they are offering Prophet in the first place, just to let it wither on the wine? BTW, this is not a criticism of Tim or the folks over at Investools – obviously they have little control over how TOS runs their charting package. I simply love Prophet charts and want to use it more, not less. Am I overreacting here? Thoughts appreciated.
UPDATE 12:22pm EDT: I start seeing a pattern here lately: Bad news like lousy earnings reports or financial failures pushes futures down over night. Market gaps down, drops a bit more and then claws back up for the remainder of the day. Berk and Mole reload on the rips – rinse, lather, repeat. I frankly can’t wait until the elections are over and done with, no matter who gets elected at this point. Shouldn’t complain though – we’re i a triangle and this will keep going on until it breaks either up or down in a big way. My money is on down of course.
UPDATE 1:20pm EDT: BOOM!
BOOM
Cheers!
