Another tough day in Wall Street, Coronavirus is without any doubt the main character.
The result was that Federal Reserve’s full firepower fails to arrest slide in markets (global stocks fell on Monday despite and while I’m writing S&P 500 index is down around 3 per cent).
“The Federal Reserve is committed to using its full range of tools to support households, businesses, and the US economy overall in this challenging time,” the Fed said in a statement. But will it be enough??? It
What is really clear to me is that US and EU economy will face severe disruptions in March and April (probably also May).
From my trading point of view, this is a signal that we have to insist in shorting the market, instead of hoping to buy stocks at cheap price (probably they will be cheaper…)
As I want to stay between 3 and 5 score risk, I will not use high leverage and I will try to think in the mid/long term, also because this is what my followers and copiers are asking to me. At the same time I will try to get every opportunity that I see to operate intraday (both short and long).
Happy trading. Stay home, stay safe!