This past Thursday was a historic day in the markets, as the DOW plunged nearly 1,000 points before rallying back to pare some losses. It remains unclear what exactly triggered the sell-off–a possible trader error in regards to PG has been rumored–but panic set in to send stocks into a historic tailspin. AAPL, in one five minute bar, traded more than 30 points lower to just below 200 before snapping back up! Those with the strongest of nerves stepped in to buy things on this extreme dip, and others who were holding longs likely have an upset stomach.
Marc Sperling said, “Wow…never in my 13-14 year career, I have ever see anything like that, within 6 minutes falling 600 points. Its crazy.” There were three categories of people yesterday: the ones who ended their careers, the ones who made their year, and the ones that went from getting killed to making money in a span of 15 minutes. It certainly was an emotional roller coaster for most active traders. With the volatility increasing dramatically over the past week, its more important than ever to tune into T3 Live’s radio broadcasts during the day. You get powerful information from top traders that will help you navigate the markets with precision.
Many of T3’s trade ideas hit their targets this week, starting with LVS down to 22. The CNQ long illustrates why we have triggers, and thankfully this one never triggered to the long side. The CSIQ short hit the target, as did UA. To get the trades before they happen, tune in live at 8:30am to http://www.t3live.com at 8:30am.
It remains to be seen what exactly triggered Thursday’s selling, but for us the volatility will likely be here to stay, which is all that matters.
