Weekly Stock Charts
Identifying index & ETF trends in weekly stockcharts
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- Last Update: 2 April 2020, 12:40
March 29th 2020 3:37P Update: So much to cover, I don%27t know where to start so I%27ll just jump right in. As far as stocks go, we were deeply oversold and just about everything bounced. (OK, maybe not oil + natgas.) This is a great environment for trading, but volatility is still high w/$VIX >50. So, you need to be quick. Every open is a coin flip if we go +1000 or -1000 Dow pts. Now is the time for quick traders if that%27s your cup of tea. Otherwise, wait for your opps (usually on blood red days), use wide scales, + scale into your favorite names slowly over time. Don%27t be afraid to grab profits on these sharp bounces either. For the record, I%27m assuming this is a bear market bounce until proven otherwise. Will be tons of opps long + short every day either way. My limit is probably $VIX >100. IF we get that crazy, I will throw in the towel on day trading & try to pick some good spots of longer term holds. Virus news gets worse by the day, but my model shows ROC slowing to ~20% CoV case growth per day as of today. That%27s down from ~49% on March 19th. This is preliminary data for Sunday, but trend is there either way. Virus growth will slow, we will win, but it%27s going to take time. Lots of drugs/treatments in the pipeline for this summer. Vaccines winter 2021. We%27ll get through this tough period eventually. Good luck out there. Be well + stay safe.
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