“Challenges are what make life interesting and overcoming them is what makes life meaningful.” Joshua J. Marine
A wild day with a huge gap lower due to China seeing an immediate crash of 7% in their markets and then the market was halted for the day.
Markets everywhere were hit hard as a result.
We’re now oversold and ready for a nice bounce so I did buy into the usual suspects/leading stocks late in the day and I’m looking for a bounce.
I should know early in the day if these trades are going to work or not and I’ll either be out, or hold them as long as I can for a swing trade, likely 3 to 5 days considering the market we’ve had recently.
N:SPY Chart:
Not great action at all but considering we’re oversold and due for at least a bounce I took a 10% weighting at 194.60 today and I’ll see how it goes.
I’m looking for a special sign that I talk about to subscribers when I see it and tomorrow will tell that tale for sure but things are looking good so far tonight.
I’ve been patient and waiting for a buy signal and I saw that come today.
We don’t have to trade everyday, it’s much better to wait for the right times and then take a trade.