After a prolonged and wonderful uptrend, we're now pulling back. Daily stochastics finally ran all the way oversold, first time in weeks/months. IBD is listing the market in correction. SPY pb has been 5%. What comes next? We'll only know when it happens!
Today was Columbus/Indigenous People day. Pay attention for cash accounts. It's a market day, but not a clearing day. Needed to keep powder dry (Friday), to have money to trade with today.
Traded OXY calls, green. PDD calls, green. NVDA puts, flat. AFRM calls, green. All trades small and extremely cautious. This market has been a B*ch and I "get what I get and don't get upset." Lately it's 1/4-1/3 off for 10%. Middle half/third off for 20%. Then trail stop on last bit....and the last bit seldom does anything dramatic.
Reversals are everywhere. Need to trade small. Scrape out those gains. Tight stop is the right stop.
