Individual stocks are down more than the indexes. How many stocks does the average person have? Probably, atleast, 5 stocks, maybe, more. Drawdowns are real. If you are a trader, you can lose more in a short period of time. That is why you need risk management. If not, you are cannon fodder.
Smalldik believes he can talk it higher. We're missing out on the TREMENDOUS rally to come (from 2200 SPX).
Good grief, today was the best trading day in the ES in months. Range, structure, volatility, volume...ideal.
Look to play a relief rally this Thursday and Friday. I think the best time to see a consistent bid put on the market that can generate a strong, consistent uptrend will be 2pm to close. There is money on the sideline that will be put to work plus those that have played the short side swing trade will be taking some profits off the table at some point. Review market action / structure on Feb 6th, Feb 9th, Mar 26, and Apr 4 to develop an approach.
Indeed...That money may just stay on the sidelines for the rest of the quarter so they can get their kids the G.I. Joe with the kung-fu grip for X-Mas.
This is a correction. Bulls gave back several months of profit to the bears today. But look at the long term trend. Tomorrow is coming and the next week will tell if it's a full fledged crash that's the start of a multi-year bear market or if the bull market will somehow muster even more energy to run for a few more months.
Erm. Yeah. Your brain is BIIIG. HUUUUGE. No doubt about it. Huh. And who are you talking to, exactly, eh, genius?