Market finally bounced and as I wrote in last post, “Going forward there might a bounce but given the severity of this sell off, question is how far will it bounce before seller comes back in”. Well, bounce lasted a day and half before sellers showed up. If you are active trader, watch list bounce ideas, TSLA, ENPH, SPCE,TQQQ worked out well.
SPY stuck in wide 30 point range. Most likely recent low gets tested again. As I wrote before, Given the uncertainty, I am expecting volatility to continue for a while.
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Here is the watch list and game plan:
Again, given the volatility,I will be mostly watching ETF’s like TQQQ LABU, SSO,JNUG,TVIX and some highly liquid tech names for both long and short trades. Volatile market out, if you are not sure what are you doing, it’s better to stay put until market settles down. Business as usual for active day traders, buy support, red to green and sell/short the rips with defined risk/reward in mind.
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Early-Bird Pricing Ends Soon!
Early-bird pricing for our next Live Trading Bootcamp ends March 7th. We are only offering the discount to the first 10 accepted applicants!
Click here to Get the Early-Bird Discount For Our Next Trading Bootcamp!
