It has been quite a week. The most volatility in a long time—mostly to the downside.
Stocks look oversold, short term, but downside momentum is too forceful to fight. Oversold sometimes gets even more oversold.
At some point, there will be a good bounce, but timing that right will be the challenge.
For the week ahead, I am willing to play both sides for the short intraday swings, of which there could be several in a day.
Play, but play very cautiously. And with tight stops.
I am NOT willing to take ANY overnight risk at this time. I don’t need the kinds of opening gaps we have been seeing going against me.
I go home flat, and I sleep like a baby.
Have a good weekend.
s
t
-r
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