It took a lot of patience today to not press the SHORT button. However, I’ve made it my process not to short stocks unless I absolutely see the perfect condition. Today, was one of those days where I was tested.
We’ve had so many days of upward momentum it was just a matter of time for the price action to go the other way. In a hot market, when things sell, they sell hard. The big names took some serious losses. This will definitely do a little damage to the traders thinking that stocks only go up. Tomorrow will be a big day. If we stay flat to lower it could mean a tide has set in. Maybe the government won’t keep pumping this market. You never know what will happen.
In any case, I was able to take two decent trades. One was with major conviction and I nailed the entry. BYND was back in play and gave me that early morning move that only gave me a moment of pain. I didn’t trade it large but it was enough to make my day.
Watch the video for the full recap. I look forward to tomorrow and hopefully get some nice setups. I will remain patient.
Today’s Total Profit and Loss = $381.00