Originally Posted by lewdog:
Pete, if you aren’t swing trading individual stocks, what index tickers do you trade?
SPY, QQQ....I don't even really "trade" anymore. More like try to time when I put cash to work. Rarely take profits right now as I am longer term in all of this. [Reply]
Today is a huge jump up..big gap....looks good on the ticker but the volatility is still high.
It could be a rare reaction that is the result of an overreaction to Omicron.
But bull markets don't happen when volatility is high. That being said, we got good bounces off the 50 days. Just need the volatility to come in now. [Reply]
Originally Posted by petegz28:
Today is a huge jump up..big gap....looks good on the ticker but the volatility is still high.
It could be a rare reaction that is the result of an overreaction to Omicron.
But bull markets don't happen when volatility is high. That being said, we got good bounces off the 50 days. Just need the volatility to come in now.
And it was less volume today right? So less follow through buying compared to yesterday which isn’t always a good sign and could mean volatility is still very much a factor. [Reply]
Originally Posted by lewdog:
And it was less volume today right? So less follow through buying compared to yesterday which isn’t always a good sign and could mean volatility is still very much a factor.
I have started piecing in this morning noting the lack of volatility and that it looks like it may have peaked. May have missed the bottom and may still get a bottom but I am in the ball park. And since I never sold anything I am no worse for wear. [Reply]
#Citadel has been shorting companies like AMC/GME and others. Hedge funds like Citadel suffered massive losses in the hundreds of millions . The company is said to even have taken action against it asking the broker to suspend trading. During a testimony Citadel CEO Griffin admitted the short positions were now closed. A search of Bloomberg however revealed that Citadel not only have failed to cover the short positions from January, but those have actually grown exponentially.
Citadel can use Chinese commercial paper and bonds as collateral. Once Evergrande is declared bankrupt and has a D status, the hedge funds can no longer use the Chinese paper and bonds as collateral. As a result, they are unable to meet multi-billion dollar margin requirements and must sell shares to cover margins or close short positions. In doing so, hedge funds must buy AMC/GME at any price. Even if the market collapses, AMC and GME shares will soar. Apes ... you are going to be filthy rich. [Reply]