Staying patient in this market is of huge importance.
I cannot stress it enough. Just because the market is open doesn't mean you should be always trading it. I would love to have more positions open right now but I don't because the market hasn't shown that it is quite ready to start the second leg down in the current sell-off.
I know that the dead cat bounce is running into problems as we speak, but that is all we know. The last thing I want is a bunch of positions getting churned to pieces by the market's indecision.
So stay patient folks, if the market breaks the lows of the day today, that would probably be a good reason to get short a couple of positions - but stay nimble and be flexible to where the market ultimately wants to go.
Here's the bearish list of trade setups for the week:
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI