Please tell me that no readers of this website bought that rally this morning in U.S. stocks.
Seeing all of that green? Remember the feeling of euphoria at 9:30 AM EST this morning?
It’s all green … it feels so good … maybe it’s over … maybe I should buy on a day-trade here …
So says the natural human tendency, and psychology, of the new trader.
Don’t be that person!
Don’t buy markets that open up 2% higher than the previous day. When every single stock on the board but two are opening green, and up big? Well … this is just me being a bit nutty … but you might see some weakness in the 8 hours that follows such an open.
For the last week, equities have given us bull and bear traps. Meanwhile, the U.S. 30 year is turning back over to key levels, and we are left to see if 151’28 is going to hold on the September 30 year futures .