In trading, it is very much okay to sometimes say “ I don’t know”. I’d argue, it’s actually a huge edge. This is largely how I feel right now. I could easily make the case that the markets could be getting ready to pull back further based on some pretty nasty action. I can also make the case that a big old sell day was on the cards and is very normal considering the types of moves we have seen. Further downside wouldn’t surprise me, just like a bounce would not surprise me knowing how resilient this tape has been. Some stocks got beaten up, and some held up well. I check my opinion at the door every morning before I sit down at my trading desk, and prepare to fully align my actions with whatever price does. If we bounce, I will act appropriately. If we sell down even further, I will like appropriately. It’s nice to have a baseline theory or thesis of what may be happening, but I don’t care or waste too much time thinking about my own opinions, I just want to get in line with whatever the market is doing.

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