Had a nice little get away with some great friends and now I need a vacation from my vacation!
So it looks like we have some more pressure from the global markets, in particular, China after reporting some fairly weak numbers last night.
Oil has been on a tear lately but be careful in that area.
Remember we talked about the fact that violent and vicious snap backs occur in bear markets.
This volatility creates great trading opportunities and a challenging investing environment because people try catching the falling knife and rarely succeed at finding the exact bottom in stocks.
If you are a long term investor and you have a stock that you want to own for months or years then look for levels of support where you are comfortable starting a position and then identify levels where you would add. Consider scaling into your positions as apposed to jumping in all at once.
The other option is to just sit it out on the sidelines if you are not comfortable trading in this environment.
Expect volatility to be high keep an eye on TVIX GLD USO UUP TZA for potential setups intraday
Stocks on my radar premarket
Bullish and may have lottos in play
Cautiously optimistic
Very Cautious may even present a short opportunity
04:01:49pm
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