Think we might just trade mostly sideways rest of the day. Maybe maybe not another burst down late in the day.
Hey all, I’ll be back to posting a bit on these boards more next week. Gonna come back Out of curiosity, what was the reason for the loss ? Stops too tight ? PA was fairly fluidly down, especially when moving to a 15 min chart
The trend always goes further than the market thinks. In both directions. It has always been like that, not just this year.
Should put it, that this scenario is happening a lot more often, than in years past. You may disagree. Fine.
Too tight for sure and frequently taking a few B/E + 1 tick exits as I suppose I lacked conviction to hold. Resulting in getting back in at consecutively worse prices.
So was it an overreaction or realisation that inflation is not just based on higher energy prices as stated numerous times in the MSM?
While still operating under the bullish end of year thesis and still fine on my position (for now, LOL!), I definitely could have been more pro-active in the short-term based on conditions at close yesterday. @SunTrader mentioned the VIX (which I had observed as well) -- and I had some other indicators which were giving at least a caution yesterday. And I noticed a number of folks switching to long or buying into the bullish scenario. That combined with ST "stretched" conditions was something that probably should have led me to at least take some $ off the table.