Unless You Are Living Under A Rock You Had To Be Short Today

Welcome back! What an exciting day, wasn’t it? We talked about this the last couple of weeks with the ultra low Vix. It was still going up anyways. Behind the scenes there was all this economic data that wasn’t being correctly reported. If you read between the lines you could see it. We knew we had all these issues with the VIX. I warned you repeatedly in the last video to watch out for North Korea stuff and even a week and a half ago when we talked about it. Lots of things are coming home to roost. Once we start closing in on the speed lines, we’ll be focusing on shorts. You can see the last couple of days, we’ve had closes on the Russell and the S&P. We also had a closing on the DAX. From that point on, we just wanted to get down below things like accumulation bars on the NASDAQ and the DOW. You had a perfect storm of the stock indices coming down like a ton of bricks. You had to be short focusing on a swing trade basis or an intraday basis. Some of the same great strategies you’ve been watching me demonstrate for you, have been firing off. It was relentless. You had to be short. I was firing off multiple shorts in the live trading room live in front of people. Even when I had a system issue that was taking place, I was short and still made money this morning. You had to be short from my perspective and it was phenomenal.

Again, the North Korea stuff that’s taking place as well as the tax plan that’s in jeopardy. The healthcare bill was a prelude. Just take a look at the last couple of videos we did and it will explain why we were thinking the way we did and why we need to be short. While we had a nice push down today, even on a percentage basis, what I’m going to be doing when we have a situation like this, I’m going to be focusing on continuation shorts in the big picture. If we have intraday hourly charts, I’m going to be looking for longside trades into the resistance levels at that point. The bottom line for now is I’m going to be focusing on shorts. If we start closing in the speed lines, like we did. I’ll be focusing on shorts in the big picture for now. That will be the favored trade of choice. Going into the weekend, I’m not going to be sticking my neck out in any sort of position.

The tools and strategies I’ve been sharing with you demonstrated what I’ve been saying. I’m going to continue looking for shortside opportunities. There is a natural retracement opportunity. For me right now, I’m not going to be a by the dip guy. This hasn’t dipped enough for me to be that way on a swing trade basis. Not until I’m back above the speedlines will I look for swing trades.

Have a phenomenal night. Let’s celebrate the successes from today. Also, we sent you a great video replay from the other night teaching you about the strategies I’ve been using. Make sure you watch that video replay in the special update section.

Have a fantastic night!

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