Trader's Daily Notebook: This Was a Mental Beat-Down

The general consensus at the end of Monday's auction was traders were caught offsides and forced to cover their short bets as the major indices squeezed higher into the regular-session close. This may be true. I really don't know. But frankly, it's not something I'd waste time worrying about, as it's nearly impossible to implement such ideas and theories into one's trading or risk-management strategy. 

What I do know, however, is Monday's trading was incredibly difficult. But perhaps only in a way recognizable to active traders. Given Friday's bearish close, I believe a majority of active participants were waiting for a reason to get short. I said as much around midday Monday, when I tweeted that it felt like every trader on the planet was sitting on their hands, just waiting to get short. ...494 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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