If I'd believed it by about the 20th time I was told that, I think I could've saved myself at least $50K.
:eek:
what the hell moved the markets at midnight?
- Thread starter BlueStreek
- Start date
If I'd believed it by about the 20th time I was told that, I think I could've saved myself at least $50K.
:eek:
They did that the day before yesterday and got hit by the gap down yesterday, they then shorted the gap down yesterday, which was a bottom with further losses resulting from the gap-up today. That's 3 to 4% loss following the trend.
If you're swing trading the SIFs and you initiated a new long position the day before yesterday, and you only exit a position based on technical price action indicating a trend reversal, you wouldn't have gotten hit by anything because two key support levels remained intact yesterday: The 20-day moving average and the 2/24 breakout containment bar low (that day's range "contained" the next 3 days' price action).
If you're swing trading the SIFs and you're a counter-trend trader who shorted yesterday's opening gap down, and you let a 10 point (or more) gain turn into a loss following the failed break of the 2/27 low, that's poor risk management.
As I was asked last week in a chat room: Who is "they"?
