Take Market Gains For Cash Position
2020-03-24 | Simpler Trading Team
Dow spikes back above 20k, oh what a day trading!
But don’t get married to the sudden updraft.
There’s more potential for a bottom based on history during a market collapse.
This sudden spike resembles ticker activity and technical support measurements that happened during the 2009 market recovery.
Simpler Trading moderators are wary of a short reprieve to the upside before markets sell off again.
With a 2,100+ point spike (more than 11%) Tuesday, Simpler’s traders followed a focused strategy… take the money and run.
Trade setups taken were set to enter, take gains, and exit with money in hand.
Nightly position consensus remains: enjoy the day trading in this volatility if you can and stay flat in cash overnight.
Long-term expectations are a market that returns to normal, for lack of a better term, but there are many unknowns that could come into play.
Buckle up, traders, this bear market is rumbling along.
We Saw: hints at getting the country back to work —
- Movement to the upside for fast day trading
- Another history marker: Dow posted best session since 1933
- Talk of a stimulus package, but no final settlement
We’re Watching: … for quick entries and planned exits —
- Is positive spike a short reprieve?
- Are AMZN and AAPL bigger bears?
- Stock check: DOCU, TDOC, JD, ZM
Learn more about navigating historical market volatility — check out the Simpler Trading community HERE.