Set it, And Forget it
Sometimes comments from the federal reserve or economic data releases like today can make your day trading easy. The market experienced a massive rally today. Almost all equities participated in the big green day. Big names like $Apple(AAPL.US$, $Amazon(AMZN.US$, and $Advanced Micro Devices(AMD.US$ had one of thir best days ever. You just know things will be bullish when you see a huge 2% green 1-minute candle on $SPDR S&P 500 ETF(SPY.US$ during premarket. This candle happened immediately following the CPI data release. You very rarely see candles like this on any of the major indices. Last time there was a huge candle on a small time frame like this was at the bottom of the pandemic stock market crash.
You didn't even need to look at your computer monitor all day. All you needed to do was lock in your position and walk away. I hope nobody got burned too bad on shorting the rip. Its happened to me too many times. I actually got burned on an oil put I was holding overnight when the market opened. All of the bullishness in premarket destroyed my put premiums. So I dropped the loser and found a winning trade to recoup the losses from my bad swing trade. You can see the dip in my portfolio for the day. I hope this bullishness carries itself overnight into the world equity markets and we open tomorrow with a nice gap up.
So what do you think? Will this bullishness continue into Friday and finish out the week?
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Trade the trends via technical, fundamental, and macro analysis. Day Trades, swing trades, and long-term investments.
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Ann_Doe : Thank you.