iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
22,162 Blog Posts

BEAR MARKET TRADING: BUY DIPS, SELL RIPS

It sounds incredulous but the best rallies happen in bear markets, especially during morning gap downs. Is today going to be one of those buy the dip and go days or will we sink even lower throughout the day in a methodical decline lower amidst apathy and tragic tragedies?

We are more likely to rise from the morning decline, now indicating DOWN 200 NASDAQs by the open. Much of this decline is due to SNAP and other big social sites falling prey to the economic winds of recession.

But, at least from what I’ve gathered about this moron tape, people will fast forget and begin to buy other stuff because FOMO.

I’m not bullish per se, just trying to guesstimate what exactly is on store for the day ahead.

Gun to head opinion: we lift from opening tick and head fake higher only to later succumb to sellooors who have margin calls and we close terribly.

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