Were people really expecting the markets to go up today? Futures were mixed pre-market. Bloomberg, at least, was framing the optimism as due to people expecting central banks to intervene but central banks can only do so much when your supply chain evaporates.
I was certainly caught off guard but still managed to make a bit of money (~6%) off of one of those idiotic volatility ETNs today.
You win some you lose some. I exit most of my put positions last week after getting up 13x.
The position I kept, I got fucked hard by this Robinhood downtime. Ended up losing all of it, (4x of my original 13x profit), whereas I was trying to exit it early Monday. If I lose money on the market and it's my fault… fine. But when my broker causes the loss, I'm pissed
Yes, lots of people were. The market closed down 6 days in a row which almost never happens. There's no major collapse like 2008, just a powerful catalyst that led to a fast correction of 10% from all-time highs and released a lot of downward pressure.
Yeah the market is near all-time highs all the more reason there's going to be significant downward pressure. There's been no major economic collapse but China's industrial output is near record lows as evidenced by the air quality.
I was certainly caught off guard but still managed to make a bit of money (~6%) off of one of those idiotic volatility ETNs today.