I love this trading thing. Worst few days ever. Dow down big on Monday because of several world events. There is the Trump thing – no comment. Then as of this writing there is the corona virus. Some of my long positions got stopped out – but I have some ETFs I am keeping because they are so much in the hole that being an eternal optimist I strongly believe they will recover.
The silver lining is in the opportunities for us “Week Traders”. Sunday will be spent researching. Monday at opening some hard decisions will have been made. I will pick my battles. To me, and I might be the only one totally hyped up by a week dump.. and a losing streak.. (I haven’t had one for months). Things will recover. But what things? Who knows. All we can do is to take some calculated risks and go for it. No other ways to do this.
Then there is the opportunity to buy when the prices are low. Especially valid with strong companies. Not airlines for sure…. I did day-trade Bank Of America and made a nice profit in a day.
If the market continues to drop.. well.. we can make it on drops as well by shorting. Intuition will play here. I might just go long a few and short a few. If I break even or come out slightly ahead I am doing well. At least, I will get a feeling of where the market is going.
Next week is going to be exiting. That’s what it is all about. Have some fun. Some excitement.