did you ever understand bulls? Because you were talking about bulltraps like you knew what you were talking about.
%% I've been wanting to buy some GUSH, past 3o days, stock split, its hit $72, ooo.LOL But even though it had daily 30% moves I did not want to daytrade it like TZA or[ SDOW , which may not be very liquid] ERX has not gone up or down as much , but pays a good dividend + more liquid; but I got a notice from Direxion Daily ,they voted it from 3x to 2 x. TWM, TZA are nicely above 200dma. I cut a loss on SPXU, my UPRO+ TWM has been doing better/trending better. I never get in a bull trap= its either profit or loss/trade and or investment/dividends. What is a trap; is cutting a loss on SPXU ,which is not trending above 200dma as well as TZA,TWM+ saying -- I should have broken my rules/plan , 'cause now SPXU is going up short term LOL[Edit;I don't mean cutting a loss on SPXU is a trap.....]
There's no way you can trade on fundamentals now because, Nobody really knows what they are! At this point all you can go by are the Technicals! And technically speaking the Bears see more room to the downside. A re-test of the lows is Probable!
Because they're thinking more short-term than you. Anyone can say "the markets will go up at some point in the future." That's not much of a prediction.
I am not buying yet long term Indexes, Fundamentally world in very bad way, USA is matching unemployment levels of 1930's of 25% and will only get worse. Can't go by what is on the shelve at grocery stores, first wave of hoarders knocked out most of common foods, groceries in a few weeks will be back to pretty full shelves. But there are very few industries that are allowed to work in bigger cities. We are very fortunate we don't lack food unlike the dust bowl of the 1930's. Virus is going to get worse before it gets better, watch the daily number still going up, like watching a chart. My longer term is looking for 1650 to reverse S&P index futures/hedged and almost always early. Am going long Energies/hedged. Coffee going up nicely, you check out Starbucks drive thru, always busy, but stock is down trend. Am still very much long term long in stocks, but when you hedge when chart patterns show Bearish patterns, smart way to go, plus am older, so rather get little smaller return cause of hedging than like the masses who are SOL. As far as buying more stock, most in down trends, wait for risk takers to get their losses or glory, fine with me. Best to stay with your Trading Plans and learn new, for most, ways to trade. As far as swing trading and day trading, trend is always your friend, I rather don't make it difficult.
GETTEM FARMERJOHN, I am genuinely impressed you're actually starting to come around and throwing some good punches yourself now.
YM >19000 is technically by my logic in uptrend, although I'd of been shorting near 22,700 I wouldn't be holding too long. Longs don't become risk to reward till low 19,000 mind. Not that I've got the kind of account to play 2000pt swings so purely for fun.
There's a lot of fast money to be made in shorting. Up like an escalator, down like an elevator. If you're swing trading, and something is swinging down, it can be very profitable.