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_Hard_Candy_ t1_iy0bd5g wrote

Reply to comment by _Kenway in PUTS ANYONE? by Stock_Man69420

this.

well keep going up since literally everyone is bearish waiting for this trendline to hold.

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juffury3 t1_iy15lcl wrote

Some bears were also screaming for another downleg when we were approaching this trendline (which coincided with the 200 SMA) back in mid august when SPY was approaching 430. We were right.

This bear market rally has lasted for about 1.5 months. The last one lasted about 2 months (before we dove off the cliff and made a new low of 350). Bear markets are all about lower highs and lower lows.

Entering longs at the cusp of this bear market rally is just as dumb as opening shorts after making a new low and several consecutive red weeks.

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blutch14 t1_iy543ur wrote

You're looking for correlation where there is none, the market reacts off economic data and when we beat estimates this week we're heading to Uranus.

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