A lot of investors and even some traders got suckered into this 4 day bear market rally. Bear markets have viscious counter trend rallies that sucker and trap longs. A bunch of traders came in today loaded up with long positions and are now stuck. This is a market where profits need to be taken quickly.
I forgot his screen name, but there was someone on this Forum predicting the market had hit bottom. Not sure why anyone thinks a bear market only last a few months.
Not been trapped as I was almost flat. Tried to buy some stuff on the rally, But nothing has gained traction. Nice to see the indexes down. They were beating me, Not I am beating Em. Only open long that’s remaining is SHPH Strange ticker. Might collapse tomorrow. Or not.
I traded Envx today for a .60 scalp. I was stopped out of MOS. The ENVX trade gave me a nice daily profit though.
Bear markets are great at trapping investors ---> Bear markets are great for members from elitetrader.com and bad for members from eliteinvestor.com
Love rallies, able to sell more in major downtrend. Those who don't study previous major bear markets will hand over their funds to more knowledgeable traders.
Maybe I’m a spring chicken here - i think every bear market I’ve experienced hit the lowest low within 6-12 months. A lot of tech names have been declining since last August. I think we‘ve already seen the low for 2022.