terror tuesday! | Bulls on Wall Street

terror tuesday!

 
 
 
mornign traders….  Looks like cash is still best position.  After getting stopped out of $sprd yesterday all i got is 1/2 position of $denn and some $uco
 
We are sitting on a support level that if it breaks can cause some hell. Lot of stops will get gunned.  We are not even oversold yet so there is not a huge edge in this market yet. 
 
Days like this best bet is to sit on sidelines and just make watchlists….
 
When there is a crash like this.. you get a chance to buy your dream stocks at a huge discount..  Doesnt mean buy but start thinking about.
 
What i like to is take a stock that interests me like say $nep and put an ideal price target i would like to buy it.  say 4.50 for me.   Then lop off 20% of that and you got yourself a decent entry in your IRA.   In a crash..the forced selling and margin selling takes down stocks way below support.  Lowball everything.
 
In my IRA I always keep 25-30% cash.  My mentor told me once the market gives u 2x a year a huge opportunity to tuck away some gems in ur ira and forget about them.
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On the trading front….  for your daytrades and swingtrades..this is precarious position.  Best go very small postion size and be active.
 
Foll the @urbanryno his trades have been hot lately (he’ll probably hideout all day now that i said that!)
 
 
 
 

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