tangman

A quick trade log: Stocks short term bearish

AMEX:SPY   SPDR S&P 500
The last couple of days I SWORE to take longer term, higher probability trades with better risk management).

That said, being a compulsive gambler, I traded the morning weakness via UVXY             for a quick profit from 22.29 to 24.38. I feel slightly ashamed, but also $700 less poor.

My outlook for stocks is that they are in a corrective wave that is about halfway over. There should be a higher C wave that convinces people to BTFD before it rolls over into a lower low. We simply have not had enough FEAR and DESPAIR in these markets, something any crypto trader is very familiar with now. After that low, it will be a low-risk long opportunity, likely with some central banker jawboning it up.

Risk management will be PARAMOUNT in these higher-interest rate environment. I would love to ride another bubble rally in stocks, but not without risk management.
Comment: This was my UVXY trade at entry


And at exit
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