So the market is struggling to maintain the FOMC STIR (Federal Open Market Committee Short Term Interest Rate) cuts impact on the markets that the volatility is killing most traders today.
I have seen swings of over 70pts in less than an hour! The entry for trades is swings 2-4pts and the only way to play these markets today is to put in a trade level near a support and resistance point that you trust and then hang on making sure you don't get up and go to the restroom until the trades is well in your favor or you took a quick, very small protective exit.
DON'T LEAVE YOUR TRADES TO COOK ON AUTOMATIC TODAY!
The market has done some 50, 70 and even 80 pt swings as the mood swings wildly from fear to greed and back to fear. This is not the normal action that occurs at market bottoms. Remember the old trading adage:
A bull market ends with a CRASH and starts with a WHIMPER. This could not be classified as a whimper in any stretch of the imagination. Watch your trades if you are a day trader. If you are long term holder, don't worry, just keep investing the same amount (dollar cost averaging) each month and forget about the statements.
Wheeeeeeeeeeeeeeeeeeeeeeeee!
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