DOW

Paitech wrote: Hope no one is short here
Covid vaccine: First 'milestone' vaccine offers 90% protection

www.bbc.co.uk/news/health-54873105

I was Paitech - I opened a cheeky short today - and got spanked! (it had to happen right?)

It's a good lesson, but what is the lesson really? I mean it reminds me of Drunkenmiller's quote when he lost billions:

You asked me what I learned. I didn’t learn anything. I already knew that I wasn’t supposed to do that. I was just an emotional basket case and couldn’t help myself. So, maybe I learned not to do it again, but I already knew that.

Not sure what to make of it from a charts perspective at the moment but from a new perspective the reality is that the vaccine isn't going to have a huge impact this winter. As even once approved and distributed availability is going to be scarce.

Ronmould wrote: Not sure what to make of it from a charts perspective at the moment but from a new perspective the reality is that the vaccine isn't going to have a huge impact this winter. As even once approved and distributed availability is going to be scarce.

Indeed Ron, here's a good article by Bloomberg on the subject:

www.bloomberg.com/news/articles/2020-11-...tions-in-large-study

But do remember that the market always gets ahead of itself, wiping out anyone in the other direction (I took a nice hit this morning!) - and not sure if there's a lesson here to be honest (beyond not trading at all!).

Stops are nearly pointless as they have be super wide during volatility. Now, I'm going to have spend the rest of the week chasing it

I'm also on the receiving end of a spanking - had a massive stop on my short as was expecting volatility but ultimately downside.

Ronmould wrote: I'm also on the receiving end of a spanking - had a massive stop on my short as was expecting volatility but ultimately downside.

I'm sorry to hear that man. it's a real beast. I've gotten used to accepting that taking a hit is part and parcel of trading, but it still can be very frustrating, so i feel your pain so to speak.

markets are the ultimate reactionaries - imagine if they were put in charge of the "red button" (nukes) - the world would be over several times over.

ouch...

Me too!!
short at 26600 kicked in and duly out for 120 pips.....fortunately it was small...and stopped out before the big move up....Luckily i had short gold which more than covered it....so phew....

Sort of move that wipes accounts clean!
Sorry Libero...That's the risks of futures....

I think the the bear phase starts now imvho....WS did say 30,000 possible...
I think down from here imvho....possibly slowly and painfully.....but wdik!

so lets see...
atb
trendfriend