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StockRake

My stock trading journal. I time the market and look for trading opportunities in stocks, etfs, and options.
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What Sucked Today 4252007

Started by StockRake · 9 months ago

Being Short. The market took off today. All Dow indexes busted to all time highs. The R2K did as well (barely on a closing basis). The market is hot here and now I’m seeing some short term highly overbought signals, however, I’m cautious on respecting those signals he ... Continue reading »

2 comments

  • Phil Kempler

    2 years ago

    i am long the QID, SDS, and DXD.....loosing bigtime..........also long 1/4 positon ONT, and full position CPST

    do you think we get bounce on the short instruements

    thanks
    reply
  • Sensei

    2 years ago

    Yeh today showed some interesting overbought signals. RSI(5) over 92 on the daily for NDX. I'm concerned that the market is in parabolic mode ala 1999. The difference between 1999 and now is that corporate balance sheets are much better. 1999 was also a period of being overpriced while now the market is cheap.

    Bottomline: If the market is in parabolic mode, we might have to eat our losses on our short positions. I did today with my puts. Doh forgot to mention that in my post. Gotta edit.
    reply

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