So much for this being a quiet august. Infact thinking about it its not that surprising when this type of move has happened when many may be on vacation, liquidity much lower, so exadurating the moves. We have had some mega sell offs in the past few days and trading this morning open was frightening. There was literally no liquidity, making it very hard to trade anything big, and I have just been trading small to be on the safer side.
In terms of equites, its been a sorry sight for those long stocks, me included, I have seen some of my holding get murdered. Now where is the bottom, who knows, do you be brave and jump into some now, or will there still be another leg lower. We are still trading in the 11000s in the DOW and 1200s in the S&P so there still much more downside possible. Since I dont know the answer to any of these Im just going to stay back and wait for that capitulation moment.
Most likely will exit my SNDK position today as its well offside, I think its a good buy but you cant fight the general market sentiment so regardless of the fundamentals if there is fear, it aint going to hold up very well.
Non farm today will be mega volatile, no one really knows what to expect. So we see how it goes.
Good luck
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