XJO (ASX) Indices 10/10

Originally posted by Neo888: ↑

"They've priced in the bad September & October prints"

Are you saying a print above the est will not result in a big sell off? I really really dont want to wake up tomorrow to a 2-3% fall on the indices due to a bad CPI print, and have to come back on here and ask you what happened...

"If traders stopped worrying & traded the channels, rather than expecting 10% drops or 10% rallies every day, they would make money"

So far ive had a great year. Sure, ive left money on the table in both directions by either opening or closing positions too soon or too late. But overall its been a profitable year for trading (not so much for the investment account though, haha). I am not expecting 10% moves in either direction all the time. One thing about me is i always admit when im wrong on a trade. There's no shame. Leave your ego at the door! You've been saying all year that you just watch the charts and pay no attention to news or data. While you may still have made money this year, you could have made a hell of a lot more if you also paid attention to news and data. I can name a dozen times this year when news and data have been a massive catalyst to the up or down side. If you just looked at the chart and ignored the CPI prints or certain commentary (particularly by the Fed), you've either lost money or left a ton on the table.

I still like you and think you have a unique style and provide value; but my god you make some ridiculous and bizarre calls sometimes lol.

My prediction: If headline is an 8 handle and core (the important one) is flat or higher than last months YoY (6.3%), the markets will sell off.

Happy to be and hope im wrong. Would love to see a 7 handle on headline and a drop in core and see the markets fly.

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You have to make crazy calls in these volatile situations
200 point swings can be expected
A lot of them have played out very well (some not so much)

I've posted my fences all week (since last friday) so everyone can see my best options to short scalp from (although I prefer not to tell people when to short)
A lot of these targets don't get hit until after hours
But when it hits the bottom of my channels & they don't break through, I close them out & take my profits
Try again

Tonight is the same situation
If the short doesn't break the lower channels, I'll close it out again

If it does get its 3% drop like you want, then great
But it's been a week that I've enjoyed scalping rather than holding onto a short position that hasn't gone anywhere

I don't like holding short positions unless the trend continues downwards

However in saying that, I'm seeing a little bit of weakness in the dxy, vix & 10yr bond yields.
If they roll over for a few days, markets go boom first before they go bust again
If they reverse that weakness tonight & go boom first, then markets definitely go bust
Big bust tbh

It doesn't matter what the news is until they change
I need the evidence to support that decision

Also, at no point have I told anybody not to short
I just like to look at the more positive side of the market, as 99% of people here are all bears
I like to be the lone voice of positivity at times
Haha