nq tested 2003 / 4 consolidation and bounced. based upon that bottom we got a good rally. I personally made most of my money today premarket and last 30 minutes of the day in the es and nq. but it was one hell of a day. seems the big boys want the consumer out and back into T-Bills, CD's and GIC. that way they can make the money while we sit and tell everyone about the lions and tigers and bears oh my. The USA media is so corrupt and a joke. w
Today I made 2 attempts to pick a tradable bottom but was hurt each time. I made some of that back with the late rally but I just can't get over the fact the market looks extremely oversold and the market just keeps going down, tick by tick! This is a very tough market to make money imo unless you have been short and stayed short.
IMO until the market allows shorting we will go down. Long sellers are now the reason the market is dropping. The market needs shorts, they produce a higher yield annually on stocks via short squeezing (stock appreciation vs value). Trades are now lost and trying to decide the value? imo I also believe the big boys are forcing their hand in forcing the fed to adjust the rate etc. similiar to what happened in the jpy/usd in the early 2002/3 and Japan. all our traders were up premarket and earlier open but got caught in the drop and not being able to exit or adjust their positions when we had broker software issues. most made also back their losses and were up mildly at close as a result of the rally and the small retracement at close. good luck with your trading w