I went short at the open and covered at 7 am PST ending my work for the day. It was quite profitable.
Many of the lagging sectors: banks, small caps, nasdaq closed beneath the Jan lows yesterday. Ok, so the large caps didn't, but it still clearly was a test of the Jan lows. While I would prefer the Fed to have not intervened and them held on their own right so to speak, who cares! They held. If you used the same logic last Aug you had to endure a run to new record highs before the lows were tested again.
That is why you are not a TRADER. You say that you "want to buy . . . but can't" so you find a way to RATIONALIZE why you are being left on the sidelines. Do us all a favor and just get lost. Go back to class and stop frequenting these boards when you should be doing your homework.
That is a LOOOONG candle i don't think we'll be retesting lows anytime soon..lol and keep in mind the fed didn't even cut today. When he does cut expect another 3%