Sooooo..this was gonna happen exactly at this time regardless of whether there had been COVID news or not? Is that what you're telling me?
Day traders and short-term swing have 2 things going for them, leverage and frequency. That's why they have the potential to grow their account much faster than a buy n hold investor. Freakin Ross Cameron made 205k TODAY ALONE. And made 951k in the month of MAY ALONE. On pace to gross over a million in june. And he is constantly stopping out of trades,several times a day.
Yes..there was a correction baked into the structure already..it just happened to be covid. The key here is you will be able project the correction is coming long before correction occurs.
You are talking to a guy who got destroyed in SAVA on the NEWS sell the 20 puts, NEWS comes out ,doubles down at 7, then at 4, stock is now at 2… probably sold calls to pick up 10 cents to lock in losses.. Now the guy is babbling about NEWS is built into the price???
My only regret trading news events is I dont react quick and soon enough. I should have known this latest dust-up between the arabs and jews would cause O&G names to spike,especially small caps. It was short-lived but traders smarter than I made a ton of money while it lasted.
But the flipside is if the global Economy tanks, so would those O&G Stocks. Gotta be as quick as Flash Gordon or unbelievably smart?