So many guys have been pounding the table with doom and gloom calls for so long but they were dead wrong. When the market finally turns down they’ll likely pat themselves on the back and say they weren’t wrong, just early. As PLB rightfully says if you get direction or timing wrong, the trade is wrong. This is one of the most important aspects of trading not understood by most.
The market has been trading in a range for the past 18 months where SPX has been between 2,550 and 2,950 with a short trip to 2,350 last winter. All this time we’ve been hearing bad news about trade wars, tariffs, Brexit, growth slowdown, earnings recession etc. Stocks have been creeping higher despite all of this and are sitting just below all time highs. If you’ve been trading the non price related data you’ve been most likely losing money and are eager to short this bad boy yet again, right?Read More