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I think this could use a revision or two! Goldman Cuts S&P 500 Target Again as Gloom Descends Upon Stocks Goldman Cuts S&P 500 Target Again as Gloom Descends Upon Stocks

Aaaand now updated 1.5-2B sale side.

MOC is ever so slightly to the buy side of $300M.. (call it flat)

VIX about to go green. - VIX index +0.5% at 30.40

One hell of a SPY fade today. We hit 433.22 premarket on the spike of the Putin news and faded all day since. We are down more than 10 full points fom the pre-highs.

Shit like this just doesnt help the Russia situation. 12:59 (UR) Ukraine security official: Ukraine is showing restraint towards Belarus but will fight back if one Belarusian soldier crosses the border 14:46 (UR) Ukraine Dep PM: Russian forces violated ceasefire and prevented evacuations...

We are but creatures of habit ... and algos programmed by humans

SPY death cross is less than 1 point away. We will basically come in Monday for trading and crossed over the weekend. Let's see how the market reacts. I am sure it will be discussed by the talking heads of CNBC etc like crazy.

JPM really getting beat up after that counterparty news. 17:51 [JPM] Reportedly is the largest counterparty for nickel tycoon Xiang Guangda's short bets - press ** NOTE: 03/10 (CN) China's Xiang Guangda tells banks he plans to continue shorting nickel - press ** Reminder: Chinese tycoon...

That said: 16:58 Market Internals update at 12:00ET - NYSE volume 345M shares, 16% above its three-month average; decliners lead advancers by 1.5:1. - NASDAQ volume 2.32B shares, 9% above its three-month average; decliners lead advancers by 1.9:1. - VIX index -3% at 29.30

Well, you had a premarket gap up on the words and promises of Putin and nothing else. There's not much real solid good news to buy into, so we just drift back lower. Neither makes for convincing volume. The real interest is going to be how much de-risking into the weekend takes place. I still...

As goofy as Doug DeMuro is, he has glowing reviews of the RT1 truck. He took it on a reasonable off-road trail as well and it handled itself respectably. (None of this wholly makes for a profitable EV startup company, of course)

15:33 (US) Pres Biden: Confirms US and allies will revoke Russia's Most Favored Nation trade status - Will ensure Russia cannot get multi-level financing from IMF or World Bank - Will apply additional sanctions to oligarchs - Will ban export of luxury goods to Russia - Confirms will ban...

Well, Biden just mentioned an EO to prohibit future Russia investment.

Old man Biden supposed to be speaking again vs Russia. He is late (as always).

SPY flipping red

Consumer sentiment numbers just came in pretty low vs expectations Lowest # since 2011

And just like that, NASDAQ flips red.

This is some old China conspiracy they peddled ages ago. April 2021 https://www.newsweek.com/russia-china-nikolai-patrushev-vladimir-putin-biological-weapons-1581896 March 2nd https://foreignpolicy.com/2022/03/02/ukraine-biolabs-conspiracy-theory-qanon/ However, headlines like this won't...

Even if Putin did a 180 and said "Ooopsie, my bad!" and turned Russian troops back home today, I highly doubt foreign business is just going to jump back into Russian markets. The PR optics are bad enough, let alone the risk associated with Putin still in power.

The entire Q1 earnings + forward guides are going to be a real wake-up for companies with Russia exposure. JPM had a report out listing various company exposures to Ukraine / Russia based on digging through financials. Most I glanced were anywhere from 2-10% earnings. Now, we are also talking...

6:23AM bump: (RU) RUSSIAN PRES PUTIN: THERE ARE CERTAIN POSITIVE SHIFTS IN TALKS WITH UKRAINE WHICH TAKE PLACE ALMOST DAILY - COMMENTS FROM MEETING BELARUS PRES LUKASHENKO - Source TradeTheNews.com

Been busy with admin most of the day. Not really any tradeable action anyway. Just looking through my charts and it looks like we will hit the SPY death cross in a few days. (50D below the 200D) Curious if that will spook anyone or we just continue this range chop.

CPI numbers are exactly in-line. m/m 0.8% y/y 7.9%

CRWD nice double beat, upward Q1 and FY23 guides

Posted this 5 hours ago now.

USO macro technical levels for a short yesterday. 3/8/22 15:06:31 SOLD -750 USO @87.44 That's not to say it was the top. Simply, there is a compelling short into that level of overhead traffic resistance in such an extended move. It favors the trade.

There are also very long term macros at play. Specifically for USO. I took a starter short yesterday. I will post chart and entry later when I’m done feeding the kiddo.

SPY 425.86 / 428.72 have been pivot levels. We've lightly bounced here today, but we need to clear these levels, break that down trend as Blazin pointed out, but then you run into the 20D (433.76), a big level of 441.24 and then the 200D at 445.58. Until the macro environment changes, this is a...

Ooops. https://www.wsj.com/articles/amazon-flagged-to-justice-department-for-possible-criminal-obstruction-of-congress-11646827200?mod=hp_lead_pos1

Tmac 3x leveraged to be precise. But it works both ways. It will triple your losses if you screw it up.

VIX clue #1 and SPY / QQQ breaking new low and immediately reversing (rough triple bottom had formed 5min timeframe). As soon as it reclaimed and started moving up, I hit market on that TQQQ too.

3/8/22 16:42:09 BOT +500 TQQQ @40.8648

Got the chart for midterm+1 yr returns on the precipice of WW3? (jokes)

Biden speaking any minute. Live feed: https://www.whitehouse.gov/live/

That was my lesson of the Covid crash. Don't try and perfect a bottom with full size. Just find levels that make sense (support pivots and macro trend lines) and scale into your position.

We're still not in any kind of panic mode. The slow controlled burn is orderly. You want to be scouting your adds when we get the panic dumps like Jan 24 and Feb 24.

Still got the Jan 24th low pivot (420.76) to play with for support. I'd be shocked if we gave that up today. Failing that, we are back in freefall to 412ish

Airlines just getting smashed today.