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I will be honest, I never expected this strength of rally. Even if it was to go up, I expected it to climb a wall of worry with panic moves down.
It was only yesterday that DAX was trying to get through 12000. Today it is 12300.
Even Oil is now $37.
As I said yesterday, Covid19 is here to stay. Therefore Social distancing is here to stay. So will the cost of restaurant meals / flights double? I do not think that is possible. Therefore it will have an massive impact on all leisure and travel.
On top of that as more people work from home, there will be lesser need on commercial property. That is over inflated already, so what happens there.
Sadly I am over analysing and just need to stick to turn times and price to make a living out of this daily, but as always when it becomes over extended, we aim for a bigger move.
Plan your trade, trade your plan!
Whatever the case I just want the pattern of zoom – cabbage – zoom – cabbage – zoom etc etc to change.
Plan your trade, trade your plan!
ADP employment numbers at 13:15 which is pre NFP’s on Friday this week.
Plan your trade, trade your plan!
They are giving it a good go at gapping through 3100,lol,feels silly even wroting that at this stage..but its true!
Gap fill on ES is 3077 today.
There is a good 20 points in it from here, if it fills and even if I am too early.
Short SPX (lower spread) at 3100.4
Plan your trade, trade your plan!
At this rate I am going to get my first margin call in absolutely ages.
DAX/FYTSE/CAC just spiking up now.
Plan your trade, trade your plan!
What really does not help is that my scalping has been reduced to just 1 or 2 trades a day. I just cannot long it here, so that only leaves shorting. There is just so little downside action and you have to be so fast and nimble to catch it.
Plan your trade, trade your plan!
I was so close to adding to my short at 3006.6, but just was too scared. I am not normally scared of any trade I have belief in, but this is getting really stupid now ie. Equities vs current reality.
Maybe thats a top just now (the fact I was too scared), who knows.
For now all I want is the gap fill so limits in to close for 18 points.
Plan your trade, trade your plan!
ECB tomorrow expected to announce more stimulus.
Friday is Non Farm Payrolls, which however good or bad, causes a rally.
Plan your trade, trade your plan!
Well done hatman … you called this one right.
Well done me for losing 40pts … I could have lost 140pts !
Never give up, never surrender.
Well done hatman … you called this one right. Well done me for losing 40pts … I could have lost 140pts !
Seconded, great call David.
Well done Chris too on your loss yesterday.
Plan your trade, trade your plan!
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