Evening folks! Mother market was all over the place once again! we had a very similiar day in the s&p to the previous day. Its really for nimble daytraders and a total account buster for swingtraders as you tend to short things to late and buy things to early or vice versa and before you know it you have stopped out of everything. Im finding the action the last 2 days to be a bit stressful but sure fun. I made more trades today then I have in months. As a daytrader I much prefer gap downs then gap ups as you have so much more room for upside on gap down days. As a swingtrader when i have overnight holds.. these gaps are really a pain. I did hold a couple oil stocks overnight and OIL was down nearly 2% when i woke up! We are in a very shorterm trading environment….where the most nimble traders will survive everyone else just gets cut up. The good thing guys is that we have seen this action before it happens every year since I can remember. It never lasts long and will go away at some point. The market has usually 2-3 times a year where it just cant find footing and people tend to get scared but we always bounce back from them at some point. If you cant daytrade or really move quickly this is a good time to be all cash and just make watchlist/wishlists and sit and prepare for the big bounce
If you want to see how we trade and my particular style: here is a video i made on our trade in SGOC last week where we sold our last shares for 50% gain on the daytrade!
Check out our BULLS PRO membership. If you have less then 25k and cant daytrade this is the best way to go as you can daytrade with our prop firm with even 5k and it gets you FREE MEMBERSHIP to our chatroom and site! email me firstname.lastname@example.org if you got any questions
Dont forget to checkout maribeths watchlists: https://bullsonwallstreet.com/2012/05/trades-from-the-bullpen-royl-exk-leap-axu/
Here is todays video:
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