The symmetry was absolutely beautiful this week.
The Boyz are obviously equal opportunity employers, as they squeezed both sides today before the books were closed on this ugly week. Those who read the dynamics wrong got steam rolled.
From stem to stern there was ample opportunity to grab some of the whipsaw, depending on your style.
Are you a scalper? Day trader? Position trader?
Knowing our normal M.O. is important, as we probably do better “swinging at our favorite pitch” when the setup is right. Some bunt, some hit singles and doubles, some hit Homers. We need them all on our team.
Lately the Illuminati have killed the pull back players with the crossover play.
The 10 cent trade came as the late contra near 3:30 ish which mirrored the 24 ish plunge a few days ago. There is always symmetry; my job is to find it. The 65 to 68 area was my target, so I refused to get trapped there late day when the shorts wanted to yeehaa all the way home.
Do you think position boys are buying this level? I have no idea. Profit taking is part of the game, and late Friday who isn’t going to take their chips off the table and go home?
If you don’t want to buy the expected “low”, you don’t have to, but shorting at a major support level is dangerous. Stand aside, or better yet, if you made a bundle,why not risk a couple of those points for the snap back?
I try to keep my thinking simple, so I can react.
Step by step, one day at a time.