As mentioned yesterday, today we saw a bloodshed in the market with losses well above 2% in the Dow, S&P 500 and the Nasdaq. We thought today we were going to have a down market but it well surpassed our expectations. The Fed will soon end its accommodative policies, therefore the market is adjusting its QE induced profits. Hopefully the adjustment will be quick allowing the markets to move on economic news as well as stock fundamentals. We are changing our prefered trade; as of today we prefer to go long on dips.
Today´s Profit USD 400 (Portfolio Size: USD 25,000)
Visit Past Trades to review our history.
- Markets are roiled by prospect of early Fed exit (fresnobee.com)
- Stocks Start Session With Deep Slump; Another Triple-Digit Loss For Dow (blogs.barrons.com)
- Markets, Metals Tumble Further Following Fed Fright (etfdailynews.com)