I think you've made a big minsesteak (mistake). You are trading your real fears, emotions, when there's jubilation, that's the time to get out. Coronavirus has been good for the market, people cooped up, nothing to spend on other than repairing the house, as soon as airlines open up it will unleash new business activity especially in the West, while the East (China) is closing off.
%% Good points ; but i would never base much on a historic weak sector like airlines. Billionaire Carl Ichan is one of the few to do real weel on aiutrleines + that was when oil/jet fuel was much cheapere, no gov goof loans to airlines, no stupid socialist vaccine mandate$ which so many pilots refuse/LOL.Every now + then i sell + buy /never based on steep looking chart$ or fake news.........................................................................
No. My plan today was to sit out and see how the markets processed the Fed and Powell's statements. And boy did they make a statement. Didn't expect such a strong up move, but no hike news is good news it seems. Might try the overnight session at these ATHs for Friday NFP prep.
FOMO rally - small volume & rotten breadth on the QQQ/NQ with only 17% of the stocks making new highs. Always gets silent during a dip of 5% or more - when the market is at highs only then do the bulls speak of loftier highs. Dumb $ is doing what it does best, piling in at or near the big turns.
One day your bearish bias lottery ticket might give you a (smallish) payout. Lmao There is nothing about showing signs of blowing up (yet), if there are no signs, why the constant twitchiness. There were signs of softening during October definitely, but not enough to warrant shorting.
Means diddly squat. If stocks are already above water mark, eg above ma50, above ma200, then there's no desperation for buying, no need for selling. It's panic buying and selling where it's a worry.
I do not sell a breakout bar like this, any time frame. I want to see what the follow up bar looks like. If it is a bull bar, even small, I will buy instead of sell. If it is a reversal bar, well, I need to wait for more information. No one is forcing a trader trade one specific product if the trader needs more info. He or she can always trade the products that have given him enough info to jump in. Patience pays in this field.