As an active trader relying solely on technical analysis and risk and position management, the recent rebound in major stock indexes is an encouraging sign. The past month had been weak and was starting to spook average market participants.
We watched the masses panic out of positions last week and bought put options, betting heavily for a collapse on Thursday and Friday, but the opposite happened, as expected. I feel bad for these suckers who trade purely on emotional impulse. They take beating after beating until they give in and decide to learn how the markets move and manage positions and risk or give up on trading.
Anyways, onward and upward!
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