16 Apr Daily View

Bears are knocking the Bulls out and not even giving a chance to stand up since Friday.  In my opinion panic is what is happening in the market right now. On Friday, when the price started sliding down, the Asian Market was already closed, looking at the prices going down with that speed, Asian investors couldn't have waited for the market to open on Monday morning to get out of their positions. And we've seen its effect yesterday. Gold lost even bigger, 3308 points, 9.21 % yesterday in comparison to 1879 points, 5.76 % on Friday.

Market every once in a while reminds us how brutal it can be. How it can kick all the analysis butt, and eat up small cap accounts, if not properly protected by stop/loss.

No analysis, in the meaning of technical indicators, will be of any use in a situation like this except for major patterns in the chart, price/market sentiment itself and major and highly considered support and resistance levels.

With the move like this, as mentioned above, many of small cap accounts must have burnt down, some of us might have missed the opportunity to ride this move, could be thinking if had entered or had not closed position earlier, could have been this much profit made and all. It is really hard to give up this feeling, but one rule in trading says "If, But, Could have or Should have" must be left at the door step before you enter in. They just don't mean anything and doesn't help in trading at all.

Well, the ones who have position open short, enjoy the ride, and the ones who missed the opportunity, let's stay alert for another one.

Stay Safe.