Wow! what a day in the markets. Its truly a nightmare for investors and swingtraders alike. And a dream for daytraders who can be nimble and play longs and shorts. 6 months ago I would not have been able navigate this market as I hadnt taken a short in literally years. I didnt even know how. But as a trader we are always sharpening our skills and learning new things and after talking with my good friends like @investorslive and @danielmardorf @thelincolnlist I knew i had to learn it to survive as we had been a in a bull market for so long I had gotten a bit lazy and just assumed I can buy breakouts indefinately. Thats the beauty of trading it literally just takes weeks to pick up something new and start putting it to work as long as you attack with an exact method/setup. The last 2 months ive made much more money shorting then going long ..who da thunk it!
In the meantime this market is a bit sick.. we are seeing action normally reserved for bear market type trading yet we are still in a bull market and not to far off from yearly highs. All pops are getting faded. We were pretty oversold but all this intraday chop has actually worked off our oversold conditon relieving us of one of our main catalyts for a technical bounce. Even people were using europe as the backdrop of why our markets have been fading but shit! europe has been pretty strong the last couple days! If we cant blame the fancyboys from overseas for our market then we are the ones with the bad market!
I noticed when market gets like this..technicals are often thrown out the window. What this market is really looking for is a piece of news. It could be anything and it will ignite the mother of all squeezes.
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
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