I’ve looked at a myriad of names and written the technical levels to either exit shorts or buy, to play for a bounce.
Many names look ripe for oversold bounces.
LVS, WYNN & UA look tempting.
Some names have retreated close to 50%.LNKD is a good example. 158 is the 50% of life of the company + the instrument is very oversold short-term.
This makes it an appealing buy before you sell @ this level.
Play any name you’ve an interest very tight, and by “tight” I mean a maximum 1-2% stop.
Point being that many names look ripe for a rally. It will be instrument specific!!Today if an instrument you’re interested in holds early and starts up, you’ll be able to hop on with a very tight stop to see what develops.
We’ve been down big for a few days in Nasd so it would follow that the bigger bottom fishing rallies come from names within this Index.
Let’s see what type of wiggle the mid-Week Shuffle will give us.
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I’m of the view that the calendar works against the buy & Hold crowd
until late summer/early fall.
In the meantime you have to trade a level at a time and keep trading to make money.