Pay attention to Angels.
One thing I respect is a class act when I see it.
Second place finish, but a true gentleman and a Master at his craft.
The difference between winning and losing is often only a matter of inches.
Yesterday the shorts could do no wrong, today very little worked right.
The aggressive shorts worked first, then the 63 Pivot became a target.
When the floater bounced hard overnight after the washout low, we suspected today would be ridiculously hard.
The market had reversed already overnight, so the question became small or large bounce?
Sixty-three test was a shoe in, then the 68.5 magnet expected at the rain line.
The contra we thought if lucky would get back to the 63 test, and 61.25 IB high test a possibility, but lower odds.
Wen trailers get hit, we figured the Boyz had in mind squeezing into the close for yesterday’s 70.25 IB breakdown test.
Knowing the high hard one is coming and laying off it are two different things.
Our major premise this morning was:
- Be disciplined, accept stop outs. Don’t drag along losers.
- If you played well yesterday, preserve your gains. Missed trades better than lost money.
- Expect the market to give shorts small rotations, and trust nothing either side.
- We blew through the 40’s 50’s 60’s… so it is possible to bounce through them again
- Once the bounce is started, all we know is “inside day”.
- Traders who missed yesterday’s plunge will try too hard shorting today.
- Watch NQ and XLF for clues.
The inability to pull back in an hour for more than a few points after the IB breakout long side led me to believe the high was not in.
What a difference a day makes.
Prayers for all those families who were affected by yesterday’s tragedy.
Bucket shop rules still as good as they were in the old days… (I wasn’t there but read about them … lol) #EMWS
The pullback (if any comes) overnight after all the stop runs on aggressive shorts.
@avassallo J Livermore.. right? got longs yesterday and shorts today… nasty business .. thanks for rt #EMWS