The week that was......
This past week was one hell of a roller coaster ride. I just want to tell everyone if you're in this market to make money you must take advantage of these swings. This is a traders market not no buy and hold crap that our parents did back in the days.
Now if you are a day trader this volatile market is your dream come true. I love these 20% drops on single stocks. For example on Wednesday the market was down big all stocks down the world was coming to an end at least that's what you were thinking sitting on your couch watching CNBC. Well guess what we are all still here and if you did not buy in that last hour of trading you missed out on the big gains the next day 10% 15% 25%.
You must take advantage of the fall and have cash on hand. I think in this market you must have at least 50% of your portfolio in cash. That is the only way you or just about anyone can make money in these conditions.
What next week brings who knows and another thing because of the way things are trading no where near there technical facts try not holding stocks over the weekend it also helps you sleep better (that's what my doctor said).
Please comment and thanks again!
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