Home Stocks What A Day!

0 100

What. A. Day. We officially hit the 10% level aka correction territory. Once again it was a late day sell off that did not stop until we closed down over -1000 points in the DJI. To say sellers were in control was an understatement. Buyers tried to lift the markets. Stocks tried its best to recover but instead we saw blowouts. The markets may look to rally here but will now look to fade that reversion. I am not a bear but I am seeing bearish tendencies and chart patterns clearly. So if you can’t beat em, you join them. We will eventually correct this sell off and rally back but for now, you must consider some short signals and hedges on your portfolio. The bears have awoke now and are hungry. Just like how bears will tear apart their food, it is now a feeding frenzy in the markets. Do not be fearful but be ready to trade within the market sentiment. When volatility is in play, your thoughts should surround short opportunities. Clearly that has been the catalyst this week and we are not slowing down. I expect the 200 day SMA to be the target in the DIA, SPY and QQQ in the near term. With the way these markets have moved, it’s possible we can see that target hit in one day. If you’re looking to be a buyer or seller, proceed with caution. Risk as ramped up big time and these markets are not for the faint of heart. Long Signal: HLF DECK EW  Short Signal: EDU Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV



Leave a Reply