Big down open coming today. SPY -1.3%, QQQ -2%. Continuation down, in a climate of weakness. Well, momo weakness.
Today's gaps down are huge / extended. Lot of pain out there. For me, this is exactly why I'm a daytrader. I wake up this morning, market is getting wrecked, and I'm ok. Yes my long term account is getting hit, but that account has a long term horizon and I'm not sweating stuff like this.
In my trading account, I come in with a clear head this morning. I'm not in pain. I just have to find my best plays and play them my best.
Word of the day will be patience. I think I should avoid the 9:31 plays and wait for a few bars to reveal themselves, unless I just do it super small. I'm also a little worried that the brokerages/markets will be overwhelmed and I will expect to see the fill problems we saw in January.
Only things on the gap up screener are the leveraged inverse etfs.
