Good time to short

US futures pointing quite down again, and the bear talk is back.. I am so surprised. I thought it might have had a couple of days of up, but maybe not...

This is not a simple correction.. this is a strong bear market which may play out over many months. Not that common, but seen a few in my life. Australia market looking "expensive" - especially given China is in one of the biggest holes it has been in 20 years. Even higher unemployment than Australia!

 

I was thinking the same. But so far it's struggled to make a deep pullback up. Interesting. Of course if the markets have taught me anything it's that anything can happen.

BTC also looking Interesting atm. On the precipice...of what exactly....well see soon.


Hang on to your hats on that. I'm still 4 lots shorts.

 

'Big Short' investor Michael Burry warns stocks will crash and rallies won't last. Here's a roundup of his recent tweets and what they mean.


Dow tumbles 1,100 points on Wednesday, heads for the biggest loss since 2020
https://www.cnbc.com/2022/05/17/stock-market-news-open-to-close.html

 

My 2c re bitcoin. If price is able to close below that red line....the probability of it reaching 20k becomes much greater.

 

Well....US markets is once again blood on the dance floor. Got an absolute smashing last night.

 

S&P hitting 3k now very much in play..
asx will be interested today

 

Yep.. SP500 -4% in US last night is showing more like capitulation behaviour, and Target down a whopping 25% (not seen since 1987 apparently). Looking like will re-test 3900. If that falls, look out below!

XJO here looking to re-test support at 7000, but similar, if that falls, long way down. We saw the XJO here go from 7000 to below 5000 in 2020.

I'm not buying yet....

 

SP500 futures down 1% right now.. looking like another red night.

Interestingly their futures was pretty much neutral right until about 30 minutes after our market closed. If not our market would have dropped even more heavily before close.

Thankfully I ignored that and bought a parcel of BBOZ before close (an easy way to go "short"with a standard asx account). Let's see if it pays or not tomorrow.

Actually, in hindsight probably should have just gone BBUS, as bbus went 9.37% today vs bboz of 3.89%.. anyhow, no matter. Once/or if? we drop below 7000 there will be panic selling on the asx. Nobody likes holding in a bear market on a Friday in Oz anyway.

 

Tonight will be interesting.

I'm still short quite a chunk of capital.

Since I started this thread earlier this year:

Sp500: -18%
DJIA: -14%
NASDAQ: -28%

My shorting stocks:
Amazon -36%
Tesla -33%
AMC -53%
GME -39%
APPLE -21%
WU -14%
NASDAQ index -28%

Not taking leverage into account.

 

Duuuuude!
you can get a discount tesla lol

I'll be watching the open later tonight - another popcorn night for me

 

Looks like a popcorn night indeed.
https://www.google.com/amp/s/www.cn.../stock-market-futures-open-to-close-news.html

 

All right punters...place ya bets.... black or red.

 

Not quite. The stockmarket is nothing like the casino unless you put all your eggs in 1 basket with no risk management. Best to stay out of something you have no idea about.

 

What are you using short stocks?
Are you trading after hours? From I see IC markets and pepperstone don't do that

 

RED

 

You can on mt5 platform. I just took a snapshot from my live platform. You can buy and sell. Blackbull also let's you but their platform isn't great so I use TV for analysis.

 

I'm also short on this pair. Daily.

 

Well stripe me pink, it's now moving whereas a few days ago I got "market closed" when I tried to trade.

I short these too. Small shorts that will hopefully close next week.

 

****... my neck is snapping watching this rollercoaster already tonight! good luck to the more serious traders!

 

Dow 30k on da cards.. that’s a big psychological level..
back in the 20k’s and then it’s on for young n old