The market crashed last evening with a some weak manufacturing data that stun all traders. The Dow Jones upon releasing the news collapsed -340 points with heavy sellers dumping the contracts. I witnessed so much selling and buyers were lacking so I joined the short selling process with those big time sellers and started to see the Dow coming down. Profited very small last evening as I was handling some personal errands. But still, I traded better than not trying when the signal was clear. It was a gap down from top where buyers couldn't withhold sellers.
Some of my traders were shorting with me and they were also watching the same signal as I do. This trader of mine traded very small positions but was making like $500 within a few minutes which to me was very impressive and determined. I can see he was watching the market right after the market opened, waiting for a opportunity to short. Congrats and I believed we shorted near high before it tanked.
As the market collapsed, I also alerted everyone to lock in profits for trade desk for a stock we traded last Friday. It was a good win again as everyone learnt something and brought back some $$ since it was a smooth easy night for trading. I am very happy to see the stocks I picked and the trades we did all turned out well. $$ was made is one thing, but more importantly, it was the confidence gained and the learning experienced which counts.
Ron K - A Game Changer
