I had the pleasure of sitting on my hands most of the day after stopping out of a few names and poking a quick trade with the @ragincajun. Equity index prices imploded in the most orderly fashion imaginable. The sell flow simply arrives at any and all attempts to rotate higher.
The blood is opening up opportunities for the patient and liquid trader. The key and emphasis must be placed on patient. There is no need to rush buy orders into the liquidation until you see the real heavy lifters enter. We produced a most wonderful wave today in the Nasdaq, and although was hardly prepared to take advantage of it, the mere observation of the swing nature allowed a rather calm feeling to stay with me all session.
Have a look:
Also making for an interesting sideshow was the tumultuous move in this Ebola TMKR. Nothing says capitalism like making a few bucks on feverous panic. There was really nothing else garnering my interest. This is a market that wants to head lower and its doing a good job of it. Although we completed our wave lower intraday, I am just hanging out and waiting for a bit more purposeful buying.
Top of my priority list- buy some more TSLA shares.
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