Morning folks. Looks like we are gonna have an ugly open with news of slowing global growth slowing down overseas markets. We also have reports of china growth slowing down also. We are down 2% across the board. Looks like we have some support in the s&p around 1170 but we might open a tad below that. We also some of the big cap names like AAPL gapping down nicely…if those get taken out there will be nowhere to hide today! Im in all cash right now but looking to deploy opportunitistically. I love gap down days this is where the big money is made as you can look for a potential reversal or wait for a slight bounce in the market then load up the shorts. Me personally I will not short anything at the open as I hate chasing a gap. Ill wait 15-20 minutes and get an indication of where the market is going.
short watchlis today…when market gets a big crazy ill use etfs a bit mroe then individual stocks
its gonna be nasty out there today… if you cant pattern daytrade or move quick i’d just take the day off go to the bar or play with your kids.
all those bottom bounce setups ive been posting the last few days are technically bearflags so you can short any of those on breakdown of that setup. trade light!
i will have a more comprehensive list in the chatroom along with some gold stocks that could go through the roof.