Missed the boat today

If I missed the boat today and didn't have or get into any options, am I too late?? I am a big chart trader. I noticed SCTY went from one band to the other in 1 day! That's pretty volatile for me. I also noticed that there are some other names that haven't moved down quite as much like JAZZ which appears to have more room down to the downside.

Sonic,

I would say never trade when you have that feeling that you have missed the boat. I think that we have all been there when you say "missed the boat," and the trades you force from that feeling tend to always suck! A couple of observations I have seen the last few days. The market appears to have no clue which way it wants to go right now, hence why the dow was up 43 today when the nas was down 48. If you also look at the high flying momentum names in the Nas.....they all were pretty much crushed today. In my opinion everyone is piling out of them in case the fed drops a bomb on wed.

It looks like the Nas started its move down on the 4th.....I know that it has had various up days in between but for the most part the stocks that have performed well to the downside started their move on big charts around that time. That is not to say that other stocks will not fall from this point. However from my perspective I try to stay away from the ones that have held up well thus far, they tend to turn and run in the opposite direction the hardest when the market bounces or flat out reverses.

quick comment on JAZZ....it looks like that move started at the 930 candle close on the 12th. I would not chase it at this point.



Edited 1 time(s). Last edit at 09/15/2014 05:06PM by fireman1984.

Thanks for your advice!