There is no need to start loading up on AMEX:SPY Puts every time the market has a down day. The market will reveal itself with price action if your are patient and contrarian. There will be opportunity to profit from a real bear market move with lower risk and higher probability than trying to catch the top. Corrections and crashes only come around rarely but there is a simple way to trade them...
This is the dumbest analysis I've ever heard. Who on earth use chart TA on SPY ????? Should change the tag to "Biased Education"... You say "End of February started to get really scared". But you didn't even realized that the crash started right after FEB monthly OPEX and the reversal started right after MAR monthly OPEX. Stop teaching bull*** please.
tradewai
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@detuma, agree ! im following this guy so I can take opposite trades!
norok
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@tradewai, You don't have to trade with me... but don't ever trade against me :D
WizdomSeekerr
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@detuma, AMEN! the more people sell out their long, the easier the market can payout those who are holding... this market will consolidate go up, consolidate and go up... all thanks to the scare of the year called Coronavirus. The best move one can do is go in long a small share and hold and let the market fight itself
norok
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@detuma, lol actually the market reversed on March the 24th. I call it my oatmeal indicator. I wen to the grocery store and finally they had my favorite breakfast back on the shelves. That was when I knew we had a bottom! :D
Data_Driven
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@detuma, Yeah I mean the fact that this guy is using Dow theory on traditional stocks is ridiculous, am i right!?!? Who was Charles Dow anyway? Probably some shitcoiner...