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.
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!)