Buying the dip didn’t work on Friday, since stock prices gapped down on news and never managed a worthwhile rally.
But that that does not mean the counter trend trading strategy won’t work today. It has been working most days.
The forces impacting the market are still very much a mixed bag, so I am looking for a choppy trading range market, probably with some false breakouts and breakdowns included just to make it interesting!
I so not see any reason to take on overnight risk or to be overly aggressive on the either the long side or the short side.
Just trade ’em.