Days when up is down and down is up are my most frustrating days. For example, market is pushing new highs, but NONE of my picks played out.
Beautiful gap up plays, esp SPWR, didn't hold. Breakdown gap JKS traded strong up.
WHYYY!??? Profit taking, is the only explanation that comes to mind. How can I tell?
Down day, it goes without saying. Carrying smidges of the longs into the close because I want to be involved to keep my eyes on it.
One idea, I heard a trader say, "The gap up [on the market] ate up all the momentum." Interesting theory. So all there's left to do is for people to take profits?
In other words, people who pre-positioned for this move are closing, but there is no one new to keep it going. And/or shakeout, novice gap, ...
