One stopped out on MOY this morning - small loss, then bounce traded it for about the same amount. Pointless really
Stopped out of the ST on FAR - small loss - will be watching that closely from here in though.
Short term trades generally doing well which hopefully indicates I've researched and picked well.
The charts of the XJO look terrible! If the support doesn't hold the TA projections down are pretty nasty. On the flip side everything seems to be hinging around the US election and US rate increase (USD appreciation as a by product). So we could also be setting up for an excellent rally in November / December. The strengthening US rates and $ are important to the ASX because it creates outflows from our market. That's what we're seeing at the moment along with a few local headwinds.
Trades need to be protected by tight stops at the moment and / or backed by solid fundamentals and cash. The trouble with tight stops is they get hit more often than not so the gains need to be larger to offset this or you go backwards. That's the problem with trading a bear market. The other problem with trading in a bear market is that the pro's, funds & instos have a distinct advantage. In a bull market they are forced to compete with buyers relatively equally, whereas in a bear market, they have the advantages of algorithms and short selling to make money from the falling market. So pick wisely and be prepared to wait.
