Replies to post #178613 on SPDR S&P 500 (SPY)

[livinginthelimelight]

Yeah, today was weird...

I got long more UWTI @ 1.89, holding 50k @ an avg of 2.11. It is a very crowded short trade. I spoke to a retail broker I have known for a while and he said a lot of the newbie brokers started getting short today. You know what that means... they will probably be wrong. I also spoke to a guy I know who owns a contracting business and likes to trade, he got short oil yesterday and says he's holding for 20 dollar oil. Reminds me of 2000 when I went to the tailor and he told me to buy some tech stock. I knew the end was near.

Other than that, I am holding some NUGT I bought cheap yesterday.

I didn't buy any SPY calls or puts today. I will probably go one way or the other on Tuesday once the picture from the weekend is more clear.

This market is going a lot lower, though I do think there is some relief coming any day now. I really thought we would have it the past few days. Obviously because of China and oil, everyone is a nervous nelly. Fwiw, my chart buddy got a buy signal on China last night.