Another fake out, this time intra-day instead of the daily as the market gapped open and quickly filled the gap, before closing below the 200 dma. Watch the video for explanation as to why I was not excited about the gap this morning and did not enter long on the gap up that ultimately failed.Traders entering in anticipation of bounces or gap downs for swings in this market are essentially gambling. There is no edge, you are just guessing.VIX/VXX held up like a champ during the morning gap and ended up on the plus side. FIT is still consolidation nicely, as is the GPRO short.In the video I discuss key market levels, current positions, strong relative strength stocks, beaten down sectors, IPOs and possible shorts. We also compare the October and current selloffs and what we can learn from that selloff. Finally we talk about why I did not enter long when the market bounces this morning.
https://youtu.be/UCOg_yohVpQRelative Strength Stocks: NFLX, FIT, GUID, MBLY, LENPossible shorts and longs: POZN, TSLA, SGEN, SUNE, AMBA, CYBR, HRTX, SEDGIPOs to watch: FIT, WING, FOGO, HABT
