Market Report for Oct 14 2022
As we all awaited the CPI which came in hotter than expected, premarket on Thursday was very gloomy with the Dow having been 300 positive turned 300 negative. All of our stocks premarket turned from green to red as well and we were breaking below key levels.
Once the market opened and the predictable impulsive reaction passed after the traders absorbed what took place over the last hour, the market started to move up. Our short exited with profit and many of our stocks started to turn green, although not all ended in the green.
This is a very interesting market and we should be prepared for violent moves.
Let’s go trade!