I think I'm a bit too old fashioned. I prefer the method of learning from EVERYONE ELSE'S mistakes. Perhaps it has to do with my book reading fetish. This is another reason why I've saved myself from the insanity of the dot-com tech-wrek disasters, and many others after.
Buying the dip in certain areas was the best trade today. Which is ironic given when he posted this thread. But that's the issue with many day traders they often can't see the bigger picture. But it doesn't stop them from thinking they can.
One day is just that. One day. The last time SPX was up > 2 % the next day was down. Overall, SPX is down approx. 11 % and NASDAQ 20 % and many single stocks are down far more than that. It's not a crash for sure, but we're definitely in a correction and nobody knows how low we'll go.
This is not a one time event it's happened 4 or 5 times already this year. Are we in a correction are you sure ? My take is for the SPX it ended in January. TSX there was no correction ( ytd +1% ).
And I fully expect the market to Continue selling off soon, either today post FOMC, or by end of week. I'm rebuying inverses. So easy trading daily reversals
The general definition of a correction is > 10 % down, so yes, with SPX down approx. 13 % and NDX down 20 %, I'm sure. Is the correction over? That's a different question. It would be a pure guess on my end, but I'd say there's a good chance we head lower from here. Not on OSEBX either.
it’s impressive to me that markets have held up most recently, with inflation, war, fed raises coming, I wonder if we’ve seen the worst. Seems like we are gonna trade in a range between 4200 and 48000 on SPX.
%% LOL\ good timing on FED day. Bull/uptrend , that's ok to be long + wrong today/LOL. That guy may have done better front running ma crossovers or ignoring them
Nope... it isn't until the ICBMs fly past each other that we'll have seen the worst. The thing is, we haven't priced that in yet because it won't matter...