/biz/ - Business & Finance

Reminder: We are way below the average true range for S&P500
It can always fall lower
but the odds are stacked against you to be short here
You should be taking profits on short positions, waiting for the relief rally, and THEN going short
don't force a short trade and lose money here

>>56190845
it could happen, but it's unlikely
we are so overextended to the downside, that the risk is to the upside - we need to at least get back into the average true range on the daily, and/or possibly even touch the 20 EMA
going into SPY puts now is how the MM wins (people shorting the short term bottom)
in a situation like this, where we're oversold and this far below ATR, you should be taking profits on short positions, buying short term calls (if you do do anything) --- and then waiting
once the relief rally fizzles, then you go back into puts
if you buy puts here, you risk getting immediately destroyed - pennies in front of steamroller, not worth the risk