Stock trading plan for June 14th
Back to regular posting daily thoughts sans charts. I will just continue to journal my thoughts about the market and not worry so much about creating charts unless needed.
So, what difference can one day make in my outlook towards the market. Yesterday it was all grim and dreary. And one day of ~1.5% gains and all is hunky dory? Just yesterday the chart formations looked like they could continue down. And today it looks like a normal pullback from where the bounce is happening. All in all the market is in short term chop territory. But if it continues to go strong from here then, people who were ready to get in today will be handsomely rewarded. I needed to curb this strong urge to make decisions based on extreme sentiment and should look at the bigger picture. Just yesterday, I closed a bunch of positions at break-even or lower just because things looked grim and poised to go down. Had I held on to them today the closes would have happened at much favorable prices. This uncertainty in the market also puts me in a mental state as if I have mentally checked out. And it puts me in a situation where I don’t complete my daily analysis and end up NOT being ready if the market does move the right direction.
Anyway I am going to use this option expiration week as an excuse to take a short break from the daily market analysis.
