Wow, what a marvelous Monday!
Dow Industrial rallied almost 2%, S&P500 rallied almost 2.5% and Nasdaq was up 3%! This rally came on the heels of a turbulent week when Nasdaq, tech stocks and growth stocks were on a downward trend.
So Friday hugely down when S&P dropped almost 50points in the last minutes of closing and Monday was hugely up when S&P rallied almost 2.5% in day!!!
What do you make out of it?
There were essentially two camps.
One camp is that of Bears who are are short tech stocks, while another one was of bulls who were long growth stocks but were seeing painful erosion of capital during the last few days and were praying for markets to recover.
Generally speaking, Mondays see weak market action and 1st day of the month observes strong market action.
And here we are? We saw market moves for both the camps.
How were you positioned on Friday? Bearish or Bullish?
What are the key lessons that you've learned from these two days of price move ?How are you going to adjust your trading based on these lessons? or no changes in your approach.
Let me know. There is no right or wrong answer.
Rooting for your success,
The OptionPundit team
