Stocks Analysis by Jani Ziedins covering: S&P 500, iShares Core S&P 500 ETF, SPDR® S&P 500, S&P 500 Futures. Read Jani Ziedins's latest article on Investing.com
, I was a buyer of Monday’s early rebound. While getting dumped out at my stops wasn’t the outcome I wanted, it was the one I expected.
No doubt there are traders out there who think they have to win every single time, but anyone who’s been doing this for a while knows this is a game of numbers. In this instance, I was clearly wrong, but since I bout the bounce early, started with a partial position, and kept a nearby stop, the cost of being wrong was trivial compared to the potential profits from locking in a 100-point move in a full 3x position.I will happily do it again next week and the week after. It didn’t work this week, but it will work one of these weeks, and that’s when the profits will come rolling in.
But every time we bounce, you will find me jumping in. Start small, get in early, keep a nearby stop, and only add to a position that’s working. Follow those simple rules, and bottom-fishing is extremely profitable.
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