Luck prefers a prepared Trader.
It's not too late to play defense. You are in the second quarter of the Bear market, defense is paramount. When you play defense, you absolutely win Games. How do we find the Trapdoors as we walk around the market?
Use the tools that you have. Tune out of the noise. This water is not safe. It's exciting, but if you think about it..
Everytime I pull up a chart, I'm looking at these technicals.
20, 50, 200 Day MOVING AVERAGES.
20 Month-Moving Average
92 Companies are trading under there moving averages. RSI, tells you if it's over sold or over-bought.
It capsules the 20 day moving average.
Equity PUT/CALL Ratio.
Historical CBOE Equity PUT/CALL Ratio above 1. (StockCharts.com)
Simply tells you when FEAR begins to rule the market. More Puts trading than calls. Add in the option activity.
Option traders lay the road map to where the market is going to go. 250 is a target for the next 4 months on the QQQs.
Don't fall for the buy and hold. It's the biggest trap of the market right now.