The market has been tough to trade – in fact it’s one of the toughest markets in recent memory. The question is: why? Several indexes are near their highs while a few others are simply in the middle of their ranges. So why is trading so hard?
In my opinion, it’s because of the steadiness of the selling pressure. Stocks aren’t alternating between dropping and popping and posting losses over time. They aren’t dropping 3-4 days and then rallying 2-3 days and posting losses overall. Instead they are just relentlessly selling off.
This means if you want to exit a position and are waiting for a bounce, you end up taking a big loss because there haven’t been any bounces. Or if you’re waiting for a bounce to go short, you never got an entry because there have been almost no back-to-back up days. Many stocks have literally dropped 10 of 12 days and haven’t posted consecutive up days in several weeks. Below is a list of stocks that have given traders no second chances.
I talk about recognizing the market’s personality and making adjustments in my masterclass. Check it out. It could be a game changer for you.
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