As the market rips and marks day 1 of its rally attempt, it’s time to grab the notebook and do some homework.
Traders who have been participating in the market for longer than a cup of coffee inevitably go through rough patches. I would equate these times with that of a baseball player going through a slump, or a golfer struggling on the tour. It starts out with a few errors, or a couple trades that don’t go your way, but ultimately grows and develops through your own mental struggles and emotional hurdles.
With the VIX coming within .56 of the 30 mark, it clearly looks like the fear everyone has been waiting for is starting to set in.
With the market reaching extreme over sold levels one has to ask which is more appropriate for the trader to be grasping onto, a helmet, or a bucket? Quint takes a moment to discuss both.
Despite a market, meandering in no-man’s land, Quint takes a moment to discuss the technical action of the major averages and key sectors.