What a great day for traders. New lows to new highs. Take profits, be fleet and flexible of mind and ride the momentum.

GS long again

GS exit

QQQQ new highs

GS free money hotline

I look forward to matching my wits against wall streets home team and their computer programs.

I did the same trade last week or so. When the outlook is the dimmest, taking GS long is like taking free money. I would have thought they would camouflage their intentions better.

Gold stocks are making new highs

GG, RGLS GOLD

GS entry

GS exit

Markets at lows again, be ready to take profits after large drops, play the inevitable pops. Let the other guy panic sell. If it bounces instead, think in reverse.

Take advantage of the awesome trading conditions.

My cynical side wonders if the feds are going to implement some new short selling rules soon...

QQQQ

Volume = conviction

The crux of the day so far was this moment on the QQQQ. The first picture shows the QQQQ popping quite hard up. The second picture shows where we are now. I had to decide if this was real or not. Looking at the low volume on the candle told me there was no conviction and that it was more manipulation than anything else. I decided to stick to my shorts/ETF longs I initiated 35 minutes before.

The probabilities held up and we are now approaching the low of the day

Good shorting today.

The markets had some nice selling today without much up action so I decided to peruse some financial websites (usually good for comedy anyway)

Check out some headlines from today:

investors worried

"Fears of 'Lehman-style' tsunami as crisis hits

Stocks nosedived

brutal selloff

In the final, hair-raising minute of trading

investors sold on fears of financial contagion

Stocks buckled

unemployment benefits jumped unexpectedly

with commodities reeling

Stock market plunges

ROFLMAO

Why doesn’t the media cheer on us shortsellers like they do when the markets are climbing? Maybe they don’t like reality.

For the last two weeks I’ve been saying to get prepared Fear & Greed Day Trader: How to trade in a wild, pile driving market.part2

As I look back at the two weeks of charts, there has been many more opportunities on the short side. When you are prepared to trade in times like these, the money will fly into your account like you’ve never experienced before.

My new lows/highs indicator today.

Sea of red from 8 on Vimeo.

sold ADS

sold ILMN