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futuresNoptions trading - mostly indices/commodities

  • #161
  • Mar 24, 2020 7:37am Mar 24, 2020 7:37am
Quoting Ll1979
{quote} What instruments did you trade?
futures, hit some really nice ones.
rennstimp
  • #162
  • Mar 24, 2020 7:40am Mar 24, 2020 7:40am
Quoting renNstimpy
{quote} futures, hit some really nice ones.
Nice! Did you trade gold?
persistence and determination alone are omnipotent
  • #163
  • Edited Mar 25, 2020 4:00am Mar 24, 2020 9:12am | Edited Mar 25, 2020 4:00am
God yields look so good but earnings reports, idk after scoring big so ready for cushy equity market. Im so fucking sick of these insane swings. Gonna stockpile on a few equity positions and just forget about it for abit. Although not just jamming it all in since I do think spx should see quite abit more red.
rennstimp
  • #164
  • Edited Mar 25, 2020 4:00am Mar 24, 2020 9:29am | Edited Mar 25, 2020 4:00am
Quoting Ll1979
{quote} Nice! Did you trade gold?
Yep it ran very hard
rennstimp
  • #165
  • Mar 24, 2020 9:39am Mar 24, 2020 9:39am
Quoting renNstimpy
{quote} Yep, it ran very hard.
Need more money on the account to trade gold or trade micro gold futures (mgc) gold is running to hard for me exceeding max risk per trade.
persistence and determination alone are omnipotent
  • #166
  • Mar 24, 2020 2:50pm Mar 24, 2020 2:50pm
I winded up buying gold today too. It’s got to hit $1,700 and I think we see a new all time high this year.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #167
  • Mar 25, 2020 1:51am Mar 25, 2020 1:51am
We might have a short-term bottom in place for ES. Normally bear market lows are retested so I wouldn’t do any long-term buying yet... Here’s how I think this might play out.

The rally: Market thinks all our problems are solved. Covid-19 is sort of beat because an effective treatment has been discovered and on the economics side we are okay because there’s all this fiscal stimulus now and central banks are printing like never before.

The retest: Covid-19 may or may not actually be fixed, not my area of expertise so I can’t speculate there. Either way, the economy is going to hurt from this. You can’t just restart it immediately, there will be a recession and markets will begin to appreciate it more as bad data comes in and companies go bankrupt. Negative economic feedback loops have already started and they’re not that quick to break. It will take longer than the market appreciates for these issues to be resolved.

And by the way, the oil plunge might have been significant enough to cause a recession even if it weren’t for Covid-19. That’s also a problem that still needs to be resolved.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #168
  • Edited 2:17am Mar 25, 2020 2:02am | Edited 2:17am
Quoting EF5
We might have a short-term bottom in place for ES. Normally bear market lows are retested so I wouldn’t do any long-term buying yet... Here’s how I think this might play out. The rally: Market thinks all our problems are solved. Covid-19 is sort of beat because an effective treatment has been discovered and on the economics side we are okay because there’s all this fiscal stimulus now and central banks are printing like never before. The retest: Covid-19 may or may not actually be fixed, not my area of expertise so I can’t speculate there. Either...
This

Although I think that a retest will happen much sooner. Still surprised spx ran so hard I knew there was a bounce coming which was why I wasnt trading /es but even then woah, I know the fed but still seems abit sharp of a bounce.

Could see es dropping hard today. But could see another rally given how high it ended yesterday.

Also Ive found that watching /cl has been a great tool for helping predict /es in past 1-2 weeks; ever since wti plunge
rennstimp
  • #169
  • Mar 25, 2020 2:10am Mar 25, 2020 2:10am
Personally I still think xau is a good pickup at this price with state of market and do believe we'll see 2000 easily by end of year.

Its been 12 years since last recession, I think it would be very naive to believe that 1700 is the top of xau
rennstimp
  • #170
  • Mar 25, 2020 2:10am Mar 25, 2020 2:10am
Well for now the US has a stimulus package agreed and the markets are rising.

Depending on news of course but I think the targets are ..

S&P 2564/2660
Dow 21630/ 22650
All charts/ideas based on UK time zone
  • #171
  • Mar 25, 2020 2:17am Mar 25, 2020 2:17am
EURUSD still worth a buy?

Caution below 1.07916 imo
All charts/ideas based on UK time zone
  • #172
  • Mar 25, 2020 2:28am Mar 25, 2020 2:28am
Quoting sponge
Well for now the US has a stimulus package agreed and the markets are rising. Depending on news of course but I think the targets are .. S&P 2564/2660 Dow 21630/ 22650
Retrace to 226xx based on weekly make sense. I think the worst has yet to come coronawise for the US so i wouldn't be surprised to see 15K.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 28 KB
persistence and determination alone are omnipotent
  • #173
  • Mar 25, 2020 2:29am Mar 25, 2020 2:29am
Quoting renNstimpy
{quote} This Although I think that a retest will happen much sooner. Still surprised spx ran so hard I knew there was a bounce coming which was why I wasnt trading /es but even then woah, I know the fed but still seems abit sharp of a bounce. Could see es dropping hard today. But could see another rally given how high it ended yesterday. Also Ive found that watching /cl has been a great tool for helping predict /es in past 1-2 weeks; ever since wti plunge
Statistically speaking, purely based on today’s return the odds strongly favor tomorrow being down and the odds of being down a week out are over 50%.

Quoting sponge
EURUSD still worth a buy? Caution below 1.07916 imo
Maybe short term. I don’t like the euro due to Italy and Spain having so much trouble with the virus.

Quoting Ll1979
{quote} Retrace to 226xx based on weekly make sense. I think the worst has yet to come coronawise for the US so i wouldn't be surprised to see 15K. {image}
I wouldn’t be surprised by that either. The short-term bottom may not be in. Even if it is, we could go lower on the retest.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #174
  • Mar 25, 2020 2:37am Mar 25, 2020 2:37am
Quoting EF5
{quote} Statistically speaking, purely based on today’s return the odds strongly favor tomorrow being down and the odds of being down a week out are over 50%. {quote} Maybe short term. I don’t like the euro due to Italy an Spain having so much trouble with the virus.
Their economies are getting crushed. If you do the math and look at the debt compared to GDP you know it will be much worse than Greece. Attachment is a bit old but you get the point.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 66 KB
persistence and determination alone are omnipotent
  • #175
  • Mar 25, 2020 2:46am Mar 25, 2020 2:46am
Earnings reports dropping too

might throw some small orders up, hmmm xau might still be best option
rennstimp
  • #176
  • Mar 25, 2020 2:56am Mar 25, 2020 2:56am
Quoting Ll1979
{quote} Their economies are getting crushed. If you do the math and look at the debt compared to GDP you know it will be much worse than Greece. Attachment is a bit old but you get the point. {image}
That’s actually one reason I like gold. It’s possible the Eurozone comes apart from this and that should give gold quite a bit of upside.
Self-sufficiency is the greatest of all wealth. - Epicurus
  • #177
  • Mar 25, 2020 3:02am Mar 25, 2020 3:02am
Entering /si, gold to silver ratio seems bound for bounce, and metals trading seems more ideal than risky indices at the moment.

Good luck trading everyone!
rennstimp
  • #178
  • Mar 25, 2020 3:15am Mar 25, 2020 3:15am
Quoting renNstimpy
Entering /si, gold to silver ratio seems bound for bounce, and metals trading seems more ideal than risky indices at the moment. Good luck trading everyone!
silver 15m
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1247.png Size: 55 KB
rennstimp
  • #179
  • Mar 25, 2020 3:30am Mar 25, 2020 3:30am
Hi guys my thoughts on these markets are just from chart observsation only.

Fundies have never been my thing but yes I see your logic

Horrible times

EDIT...Italy has reported a drop in cases over the last three days....we need a wee bit of good news
All charts/ideas based on UK time zone
  • #180
  • Mar 25, 2020 4:01am Mar 25, 2020 4:01am
Quoting sponge
Hi guys my thoughts on these markets are just from chart observsation only. Fundies have never been my thing but yes I see your logic Horrible times EDIT...Italy has reported a drop in cases over the last three days....we need a wee bit of good news
NP Sponge no need to justify yourself. Keep posting great content!
persistence and determination alone are omnipotent
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