Let’s see how markets have been moving.
The Daily Direction
Note: it was a mixed day for the indexes yesterday, with some closing higher and some lower. But even the higher closes weren’t enough to reverse any directions, and they all stayed negative.
The Daily Nugget
Even though most panic is irrational – it spreads quickly.
Bank stocks – even those of the big boys – are getting hammered. This is even though there is little risk of contagion from Silicon Valley Bank’s (SVB) fallout, and despite the fact that the government has already pledged to backstop SVB’s depositors.
If you think about it, it doesn’t really make much sense. But people are irrational – and fear spreads quickly.
Let this be a lesson the next time someone talks about how “rational” markets are. Remember, markets are ultimately just the aggregate of billions of decisions – decisions made by irrational people.
The bright side is that all this irrationality creates trends – which gives us plenty of opportunities to profit.
And if you want to see how to translate these trending opportunities into a fatter trading account, there’s no better person to show you than Ross Givens. See his top trading strategy for today’s market environment here.
The Traders Agency Team
P.S. Want special trade prospects and potential market moves from Ross sent directly to your phone so you don’t miss out on anything? Text the word ross to 74121 now.