Slow Down the Trading in a Bear Market

When you slow things down, and trade off longer-term time frames of 60-minutes, or daily charts, there’s not as much to write about. You can see that in this TWM 60-minute chart I bought last week. It really hasn’t moved much. That’s ok with me. I make my stand, and stick with it until the ETF heads my way, or stops me out. Buying a core position, and trading around it is helping too. In my last post on July 17, TWM gapped down the next morning. I added shares instead of panic selling, because I was buying in partials.

It’s way too easy to flip-flop direction in this current market with all the intraday whipsaws. I just can’t trade charts like that. Here’s an example today.

With the earnings disasters afterhours, TWM should put in a higher high candlestick on the daily chart. I’m looking for 80-81, as a final goal, which is where the ETF broke down on the 60-minute chart.

SKF is also on the watch list, as it found support at the 50dma, and has a gap to fill near 160 on the 60-minute chart.

If the fed doesn’t pull a magic rabbit out of it’s hat, the market should gap down tomorrow, and the double-short ETFs up. Stick with the big trend. I have to keep reminding myself that. Trade with the trend. It sounds easy and cliche, but it’s probably the biggest mistake traders make.