I saw so many people posting their garbage yesterday. Buy this it's going to here. Buy that. What they didnt realize and probably dont have the knowledge of is we hit two standard deviations below on QQQ and fell below one on SPY FOR THE WEEK. Market makers need to reel the market in. It's their JOB to do so. Things are hanging out at the bottom waiting for the next leg down. I see some of the plays you people took yesterday and some of you are already getting smoked.
This is no longer buy the dip people. Sure, I thought SPY could go for the 490s and QQQ 430s but that is looking pretty unlikely. 2/3 of positions by the big boys are very bearish and the long positions they are taking are for no significant upside at all. Find out how to do look at the positions they are taking. It's out there on the internet. Find out how to tell what the market is looking for every week. It's out there in books and the internet. No youtubers are not your source for an education nor is twitter (the biggest joke yet)
Good luck people. Enjoy your weekend. I will post the next move the market has over the weekend. Till then..... just going to watch the short positions excel :) PS I dont care about SPY.. don't trade it but it does confirm what is coming for the stocks I am in.
This is no longer buy the dip people. Sure, I thought SPY could go for the 490s and QQQ 430s but that is looking pretty unlikely. 2/3 of positions by the big boys are very bearish and the long positions they are taking are for no significant upside at all. Find out how to do look at the positions they are taking. It's out there on the internet. Find out how to tell what the market is looking for every week. It's out there in books and the internet. No youtubers are not your source for an education nor is twitter (the biggest joke yet)
Good luck people. Enjoy your weekend. I will post the next move the market has over the weekend. Till then..... just going to watch the short positions excel :) PS I dont care about SPY.. don't trade it but it does confirm what is coming for the stocks I am in.