about to get burned. All bad news is out. Everyone knows about the tightening. That is why Naz is down over 20%. Inflation out of control, world (well some of it) at war, the worst President this country has ever seen is sitting in the White House, crime getting worse and worse, and that is just the start. Still, with the bad news out, I think we've got a rebound coming. We can't forget that even with Fed tightening the U.S. is spending like a drunken sailor, completely freaking out of control spending, which is expansionary. And real estate prices are nose-bleed high, not off any, so eventually all those dollars congress is effectively creating and spending have to eventually go somewhere investment-wise, which a good portion will go into the U.S. stock market. It has to turn around soon. Yes, I may just be saying all this to try and convince myself we don't have another 30% downside to go, but that is my God give right LOL.
simply do day trading. simply react to the chart. Then you don't have to worry about the bulls, bears, whales, sharks .... upside good for the traders. the downside is also good for the traders. very good news is very good for the traders. the very bad news is also very good for the traders.
Remember the March low? Markets rebounded over 10%. Then what happened in April? Bzzzzt. Yer a really funny guy!
LOL, I'm wrong like 90% of the time, I ain't gonna try to deny it, denying it would be a lie! Still, I think at some point the inflationary pressure, along with the (hugely) expansionary fiscal policy (the two are tied together obviously) bringing much money back into the market and up we go again. Starting tomorrow. I can feel it LOL....
As a day trader no need to worry about market going up or down. The only bad thing is market going sideways.
You can feel "it" with your 10% probability of being right? That's worrisome. Perhaps stop even trying to call highs or lows and trade the belly where the real money is made. Tops or bottoms are meaningless because they are near impossible to be timed. You might be right about tomorrow (or wrong) but what about the day after tomorrow and so on. Smart traders trade momentum not tops or bottoms.
as an option trader i sit back and laugh at all the "day traders" as they continue splashing in the pond generating entropy