That Was Close

Is today's price recovery the end of this market 'crash'?   The flash in 2010 saw prices plummet some 10% and then magically recover almost all those losses into the close.  But.... we ended up heading below those prices over the next week or two before the selling abated.

The odds that today's price recovery is nothing more than a relief rally are very good.

In it's darkest depth during 2008 and 2009 the big collapses in price had spikes to the upside interlaced.  While I think anyone buying here will be able to sell for higher prices in the long term, over the short run I don't think we are out of the woods just yet.  But that doesn't mean its not a great spot to be buying if you have a long time horizon.

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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One thought on “That Was Close”

  1. The flash selloff Tuesday will most likely keep occurring until the fund redemptions settle down. It makes for some great reversals come morning. SPY UVXY VXX options benefit from hard reversals,

    Will look for more opps when they occur taking into consideration other current factors.

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