Evening folks. We had our first red day in quite some time. After a nice opening gap we had a gap reversal with follow through. This market is in need of a pullback and we just might get it. The trading was tricky today..I had some good entries on a lot of stocks and just could not get follow through on them. End of the day I ended up in pretty much all cash. longerterm the technical picture is still intact but we do need to back and fill a bit. We could be getting that in the next couple days. This market has been resilient though and burned shorts so many times so Im not looking to add any swingshorts but on a daytrade or shortterm trade side @mb_willoughby has been shorting parabolics in the chatroom on a daily basis and been killing it and nailed another killer short in $ipsu taking a dollar on it covering most of her shares today at the low of the day.
I go home today with mostly cash and will be looking to deploy some swings if we can pullback further…in the shorterm I will be daytrading.
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