jsd501 11:51 am on Monday, February 5, 2018

SPX

I guess the 50day MA did not mean much in the way of support. The 200 day MA is a long way down from here. Scary.

hcgdavis 11:54 am on Monday, February 5, 2018

the tracker just swung back to negative on big money. -60 big money, – 95 small money but still only -20% short overall in /ES.
1strangealien 12:04 pm on Monday, February 5, 2018

I’m thinking we get a snapback up to the 50 day tomorrow but ultimately it’s headed down to the 200. Just a gut feeling, my crystal ball is as cloudy as yours is.
- 1strangealien 12:13 pm on Monday, February 5, 2018
  
  Holy crap! Can you say margin calls? Or is this a flash crash?? Hope we don’t make it to the 200 TODAY
  - hcgdavis 12:19 pm on Monday, February 5, 2018
    
    Looking at the steepness, margin call related. Once the brokers clear out their margin calls it will flatten. As I am typing back up 30 points on /ES
    
    Be patient, the vol will stick around for a while and we will have time to sell options and make a lot of $ from them.
    - jsd501 12:21 pm on Monday, February 5, 2018
      
      That was a quick bounce but there is only short covering, no real buyers.
      - hcgdavis 12:25 pm on Monday, February 5, 2018
        
        agree but we may at least pause here