Well Warren did his thing with Goldman yesterday, and Mr. market responded after hours with an immediate 22+ point pop.
That turned out to be the high of the day.
Here is a question that I have tattoed on my brain:
“How will the most number of traders be confused?”
The misdirection trade kept eager longs in the buy the pullback mentality, and the market tested yet lower again. Range trading was the order of the day, with 1200 the cap after the premarket high established it’s dominance.
As a day trader, I am interested in current support and resistance, and high-odds opportunities. Catching the middle of one or two swing trades a day allows for a comfortable living.
The secret code is an edge in the market; knowing the areas the boys will take profits allows us to take the contra without having to guess.
What a great business.