News that the US was holding back initiation of new tariffs against China
hit the market unexpectedly this morning like a thunderbolt to the ground.
The S+P 500 immediately rallied 60 points literally straight up in a matter of minutes on the news
putting it once again back above 2900.
This move is technically significant,and bodes well for the bulls if they can hold it.
Today's sharp immediate rally is a vivid reminder,that in this age of in seconds market response to news
shorts must have a STOP on the books at all times, to protect their bank.
I am quite sure that the damage done to shorts this morning,
will cause them to think twice, before initiating new large new short positions anytime soon.
Once Burned. Twice Shy.
No one ever said the stock market was not,
a very risky place to park your money for a long time.
THE_UNWIND
8/13/19
New York
hit the market unexpectedly this morning like a thunderbolt to the ground.
The S+P 500 immediately rallied 60 points literally straight up in a matter of minutes on the news
putting it once again back above 2900.
This move is technically significant,and bodes well for the bulls if they can hold it.
Today's sharp immediate rally is a vivid reminder,that in this age of in seconds market response to news
shorts must have a STOP on the books at all times, to protect their bank.
I am quite sure that the damage done to shorts this morning,
will cause them to think twice, before initiating new large new short positions anytime soon.
Once Burned. Twice Shy.
No one ever said the stock market was not,
a very risky place to park your money for a long time.
THE_UNWIND
8/13/19
New York