Be Careful
I should start by saying that I don't think this rally is over yet. But be careful at market open today. All of the major indices are showing signs of overbought conditions on the short-term indicators. Most tickers are experiencing overbought conditions after yesterday's rally. And also remember that after a massive one day rally there is usually a little profit take that will follow. Swing traders like to take profit from time to time.
I'm not saying to sell your long position immediately when intra-day trading opens. Remember that indicators will stay in oversold conditions for some time during a rally. But, hypothetically speaking, if we start seeing multiple red candles with the volume building and momentum to the downside increasing then personally I might cover my long position until the trend bounces.
$Invesco QQQ Trust(QQQ.US$ $SPDR S&P 500 ETF(SPY.US$ $iShares Russell 2000 ETF(IWM.US$ $VIX Index Futures(AUG4)(VXmain.US$ $SPDR Dow Jones Industrial Average Trust(DIA.US$ $Gold Futures(AUG4)(GCmain.US$ $Powershares Exchange Traded Fd Tst Db Us Dollar Index Bullish Fund Etf(UUP.US$ $SPDR Gold ETF(GLD.US$ $iShares Silver Trust(SLV.US$ $Ishares Iboxx $ High Yield Corporate Bond Etf(HYG.US$ $Ishares Iboxx $ Investment Grade Corporate Bond Etf(LQD.US$ $iShares 20+ Year Treasury Bond ETF(TLT.US$ $Crude Oil Futures(SEP4)(CLmain.US$
$TENCENT(00700.HK$ $SSE Composite Index(000001.SH$ $CSI 300 Index(000300.SH$ $CSI 300 Index(000300.SH$ $FTSE Singapore Straits Time Index(.STI.SG$ $NIO-SW(09866.HK$ $NIO Inc. USD OV(NIO.SG$ $NIO Inc(NIO.US$ $BILIBILI-W(09626.HK$ $Bilibili(BILI.US$ $Baidu(BIDU.US$ $BIDU-SW(09888.HK$ $XPeng(XPEV.US$ $Li Auto(LI.US$ $BYD COMPANY(01211.HK$ $BYD Company Limited(002594.SZ$ $S&P/ASX 200(.XJO.AU$ $FTSE Singapore Straits Time Index(.STI.SG$
$Apple(AAPL.US$ $Tesla(TSLA.US$ $Microsoft(MSFT.US$ $Amazon(AMZN.US$ $NVIDIA(NVDA.US$ $Meta Platforms(META.US$ $Alphabet-C(GOOG.US$
$Chevron(CVX.US$ $Phillips 66(PSX.US$ $Valero Energy(VLO.US$ $Devon Energy(DVN.US$ $Occidental Petroleum(OXY.US$ $W&T Offshore(WTI.US$ $United States Oil Fund LP(USO.US$ $United Sts Brent Oil Fd Lp Unit(BNO.US$ $Imperial Petroleum(IMPP.US$ $Houston American Energy(HUSA.US$ $Indonesia Energy(INDO.US$ $BP PLC(BP.US$ $Exxon Mobil(XOM.US$
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Dragon God : ?
SpyderCall OP Dragon God : I believe the rally will not be over yet. But there might be some selling to bring the price down after a sharp 1 day rally. Then after that the rally will continue. i don't know if the selling will be today. but when the selling happens then remember the rally will more than likely continue after that.
你老味 : Less vibration, still need to care, hold on and wait for the future
SpyderCall OP 你老味 : im lost in translation. you are saying to just hold. correct?
你老味 SpyderCall OP : yes
SpyderCall OP 你老味 : got it. That would probably be the easiest way to handle the situation.
Andytanmh SpyderCall OP : Agree
只若初见 SpyderCall OP : I believe the rally will not be over yet. But there might be some selling to bring the price down after a sharp 1 day rally. Then after that the rally will continue. i don't know if the selling will be today. but when the selling happens then remember the rally will more than likely continue after that.
SpyderCall OP : institutions rarely lose too much. If they lost any money then it would have been yesterday. Many shorts were squeezed out of their positions. Yesterday most of the decreases in open interest on options contracts were long term short put contracts.
72779186 : Buy physical and forget about it.
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