I am bearish on the overall market and only have relevant short term single name trades on currently. I have been and will continue to wait for opportunities in after the next sizable wave of selling. The DJI is turning down and indicators are all pointing down on the daily. The VIX is also oversold and is getting a bit of support here as fears are rising due to the obvious looming crisis. Unfortunately the Fed can't fix this, they are just buying time when they prop up the market and will kill the public with a 20-30% hidden tax (inflation= hidden tax).
I do not trade options, short markets or trade on margin in any capacity. It's part of my rule book and I stick to it. I favor weekly/monthly reversals in normal market conditions and prefer to let the day traders fight it out in between those pivots.
The Chart in a nutshell-
VIX - Fear is in the BUY ZONE (I don't buy VIX, it's just an analogy for the overall picture)
DJI - Greed is in the SELL ZONE
Disclaimer- This is an observation on the short to medium term outlook, expect choppy trading as nothing ever goes directly to a target in a straight line.
Manage risk and trade accordingly. Stay safe out there!
I do not trade options, short markets or trade on margin in any capacity. It's part of my rule book and I stick to it. I favor weekly/monthly reversals in normal market conditions and prefer to let the day traders fight it out in between those pivots.
The Chart in a nutshell-
VIX - Fear is in the BUY ZONE (I don't buy VIX, it's just an analogy for the overall picture)
DJI - Greed is in the SELL ZONE
Disclaimer- This is an observation on the short to medium term outlook, expect choppy trading as nothing ever goes directly to a target in a straight line.
Manage risk and trade accordingly. Stay safe out there!