Another consolidation day for the markets. We had some early morning weakness that got bought but we just couldnt get the market to break higher. we got some decent resistnace building up at s&p 1410 area. Then Harry Reid came in and teabagged the whole market with his “fiscal cliff” talk . So far …
The market got ugly towards the end of the day today with uncertainty surrounding the fiscal cliff still looming. The market continues to be unable to shake off bad news which is not a good thing for the bulls. I continue to trade fast and not hold alot of longs overnight until this resolves itself. …
One of the hardest things to do in trading is catch the bottom in stocks that are tanking. News comes out and tanks a stock essentially putting it on “sale” and everyone starts trying to figure out where the bottom is. This is hard because often times the stock continues to go lower for days and …