Hi, traders. For some reason, I decided to do a video this week to try and make some sense of what was one of the craziest weeks I can remember since I started trading six or so years ago. Monday is likely going to be crazy too thanks to S&P waiting until Friday night to release their downgrade news. In the video I go over the following topics....
- Some stats that show exactly how extreme this week was and where we are currently at compared to other extreme selloffs from the past three years.
- What to look for intraday to help spot a potential meaningful reversal and how to manage it if you decide to play one at this risky time (hint - USE STOPS).
- Stocks that are holding up relatively well given the circumstances of the past week and those three or four that are my favorites.
- A look back at 2008 to see what we may be headed for over the next month or so.
- A very short-term game plan for Monday and a longer-term game plan for the end of this week potentially into next week. I'll give you a hint - they are quite, quite different.
Hopefully it helps - my mind is spinning like everyone else out there and I hope I was at least a little coherent in what I was talking about.
I did not yet do a spreadsheet for earnings plays this week but will try to get one together tomorrow and if I do, I'll share the link via Twitter.
I hope you find the video helpful and informative. As always, feel free to email me with questions or comments - I enjoy hearing from my readers. If you like the videos, please take a moment to leave a review on Investimonials.
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