Stuck at home and trading like a monster through coronavirus! Here’s what’s next!

Okay, welcome back, everybody! What an exciting day on Wall Street again. I mean, if you got to be locked up in your house what better thing could you be doing if you’re into trading and investing then enjoying these wild rides on Wall Street. So, we went ahead and we started off here, of course, today we were down below the speed lines and we’ve stayed down below the speed lines so with that being said the focus here from my spot early on was short side trading. That was the right course of action but then something happened. We turned around and I’ve taught you this strategy time and time again where we start to move around, we start to go back up maybe even get a little bit of throttling, get our first indications, so, we went ahead and then in the live trader room I said, “okay, let’s wait for a pullback and then let’s start to go ahead and take off.” Well, sure enough, that happened right there during the live trader rooms and the market just took off. All the ITP indicators we’re firing off like crazy with throttling taking place here, with dual momentum just this market just screaming eagle here to the upside and it went, and it went, and it went, and it went. Just beautiful right up there into the close and then, of course, it kind of settled out here we ended up having kind of a negative divergence and at that point it’s getting late in the day anyway so time to back off. But a phenomenal way to go ahead and spend the day if you’re going to be locked up. What a great opportunity to go ahead and trade these markets I was able to gross over $3,600 dollars on this. I know a lot of people had a lot of fun with this, an excitement, it’s just an incredible opportunity. With every opportunity, of course, comes risks. You’ll always remember that but the reality is, if you’ve got to be locked up it’s a great way – what a great time to be a trader, you know? Not going into corporate America and not going ahead and having to deal with all those crazy things. All my travel, I was supposed to be in Italy this week and then France at the end of the month. Both those trips were, of course, cancelled, so, if I got to be stuck at home, well, what a great way to go in and trade.

So, what we’re looking at now, the strategy here now that the market is closed up for the day we just got closed up. It’s 3:15 Central time 4:15 Eastern so things are shut down now here on he dome and everything and so what we’re looking at going into tomorrow if we’re down below the speed lines generally speaking, I’m gonna be focusing on short side trades although I’m gonna be a little bit careful because of the accumulation bar that we have in place but I will primarily be looking for shorts if we go ahead and we have more of what we saw in the backdrop over here with the sell signals, right? If we get throttling and selling down there but, then as soon as we see live up or long opportunities – if we’re back above these speed lines in particular I’m gonna really be aggressively looking for any sort of long side trades back up to the falling resistance. So, it’s pretty much like the strategy I laid out for you last night but, I want you to see how that strategy is exactly what’s working right now for me because taking the shorts while the shorts are good down below the speed line is great but then as soon as we start transitioning to longs I wait for that first kind of a wave, if you will, to go ahead and take place and then the second one is where I’m looking to really jump into those things because they can be monsters and they certainly were monsters today to say the least. So, we’ve got a lot happening right now with New York and the National Guard and Georgia closing schools – every time we turn around, Italy went from 25% closures to a hundred or the whole country being closed down and with all those different things happening that makes a lot of great opportunities. I’m still not focused on catching bottoms at this point. As I said, aggressive longs wouldn’t even take place still above the speed lines and real general longs wouldn’t take place still above the channel. So, only hedge positions from my perspective from the speed lines back up to the falling channel and well defended positions for swing trades for but otherwise the real opportunities are if you’re stuck at home, what a great time to be a trader and most of you even if you have second careers can hopefully go ahead and work from home now with your jobs and so a great opportunity, take advantage of as you see fit. The markets are lively and exciting as ever and we go keep an eye open for great trading ideas here with WealthCharts that are firing off a lot of different signals in different areas and with the things like in the live trading room.

So, you know my strategy now for tomorrow, cautious shorts because of the accumulation bar. If we stay below the speed lines aggressive longs above the speed lines and really any sign of turnarounds on an intraday basis the short covering is swift and violent leading some really nice long opportunities, there as well. So, really trading both sides of the fence at the moment – very exciting, exciting time. If you guys have more questions let me know maybe, we’ll try to do a public event with you in the coming days so that we can all enjoy this great market together. You guys have a great night, I look forward to seeing you in the live trading room tomorrow morning for all of you who are there already with us each and every day and otherwise we’ll see in upcoming videos. Take care everyone! Bye-bye. English

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