Investing

The Short-Term Trading Thread

  • Last Updated:
  • Nov 23rd, 2020 10:30 am
Deal Addict
Aug 18, 2003
1009 posts
251 upvotes
YVR
So when's the fed going to save us. I'm thinking of gap up Tuesday...
To learn who rules over you, simply find out who you are not allowed to criticize.
Deal Addict
Mar 21, 2013
2869 posts
3725 upvotes
Edmonton
Charles wrote: So when's the fed going to save us. I'm thinking of gap up Tuesday...
So sick of the fed! How about some actual US fiscal stimulus. Man what a mess down there.
Deal Addict
Aug 17, 2008
4444 posts
3662 upvotes
@Blubbs Would be fun and maddening at the same time to work there.

Update (For everyone else)

What's the effect on SPX if this occurs amc today?
[OP]
Deal Addict
Nov 6, 2015
2967 posts
2114 upvotes
Calgary
Higher low and vol crushed
Got long earlier, babies didn't let me post
Stop at entry 3375 - now 3379

Edit: Out 3412.5 (+38)
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Deal Addict
Aug 18, 2003
1009 posts
251 upvotes
YVR
margincall wrote: Higher low and vol crushed
Got long earlier, babies didn't let me post
Stop at entry 3375 - now 3379

Edit: Out 3412.5 (+38)
Seems like a lot tech levels have been tested and failed....

edit. in ES 3395

edit 2. out 3406 dumb luck.
To learn who rules over you, simply find out who you are not allowed to criticize.
[OP]
Deal Addict
Nov 6, 2015
2967 posts
2114 upvotes
Calgary
Charles wrote: Seems like a lot tech levels have been tested and failed....
There was no support under the market due to the parabolic rise as I kept highlighting (we need backing and filling to build support)
For some perspective, we were here just 2 weeks ago...the speed of the move makes it look worse than it is
Prior to that, we spent 10 days trading in the 3360-3400 range -> strong support
All we've done is take out the froth (and a lot of stopsWinking Face)
The bigger bullish structure is still intact, especially if we close above 3410
Don't count out the FOMO crowd just yet...

Have a great weekend all!

Capture.PNG

Nice rally off the lows, approaching resistance

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Sr. Member
User avatar
Nov 15, 2006
501 posts
133 upvotes
Calgary
Sorry Tesla. No ticket for you to enter SP500.

Its okay, just split your stocks one more time.
Keep walking through the storm. Your rainbow is waiting on the other side.
Deal Addict
May 13, 2005
3461 posts
3307 upvotes
Montreal
margincall wrote: For some perspective, we were here just 2 weeks ago...the speed of the move makes it look worse than it is
Prior to that, we spent 10 days trading in the 3360-3400 range -> strong support
Yeah, as I'm working full time, no day trading, I put a limit order to short ES at 3465 (2 contracts) thinking it won't be able to fill with the boring trading range 3360-3400 two weeks ago.
  • Aug 26th, order filled for shorting ES at 3465 (2 contracts)
  • Sept 1st, ES > 3500. Put a another limit order to short ES at 3575 (2 contracts).
  • Sept 2nd, order filled for shorting ES at 3575 (2 contracts). ES go over 3580, well loosing > $12000, start worrying...
  • Sept 3rd, ES drop hard
  • Sept 4rd, put limit order to buy cover ES at yesterday low 3427 (2 contracts). Order filled.
  • Sept 4rd, put limit order to buy cover ES at 3350 (2 contracts). Order filled.
  • From loosing around $12000 to gain $26000 is consider very lucky here...
Deal Addict
Oct 22, 2014
3329 posts
1332 upvotes
Toronto
@dlhunter

This explains the rise in VIX alongside Equities last week.

https://www.cnbc.com/2020/09/04/softban ... tions.html
Traders had been monitoring the unusual activity, which may help explain why the stock market had been climbing at the same time the VIX was rising.
What is more interesting is how will Unicorn rider react to the Thurs drop
Boockvar said the question now is whether SoftBank unloaded its positions. "We'll see if they're reversing it. A lot of the call buying was an upward lift to the market. The sellers of those calls, then had to buy stocks and hedge and it becomes a self-fulfilling prophecy on the upside,"
Deal Addict
Aug 18, 2003
1009 posts
251 upvotes
YVR
I just ran accross this...does pre-market trading actually start at 4am eastern standard time? is there any volume?

"Extended trading on Nasdaq.com refers to the Pre-Market activity shown on the site from 4:15 - 9:30 AM (actual trading starts at 4:00 AM EST)"
To learn who rules over you, simply find out who you are not allowed to criticize.
Newbie
Sep 4, 2020
3 posts
1 upvote
Yes, pre-market reading starts at 4 am. But you need to find a brokerage company that supports this. I am not sure if thers's any in Canada. One possibility is to check with Interactive Brokers - since their US side supports it.

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Charles