Believe it or not, stocks do go down and this week proved it. New traders that have been buying everything and chasing like crazy got to see first hand that it always works, until it doesn't. Nate has been warning new traders about this for a few months. There was still plenty of trades on the long side but for the first time there was some true weakness.
A few members put RKT on the chats radar early on. Nate shared his big picture idea mid day.
After the run up on RKT other mortgage names started to build momentum.
OVID Failed Follow Through
Nate gave a nice running commentary on his FFT setup on Wednesday.
SOS Broadcast Plan
Nate laid out his trade idea and key levels to watch for during the morning broadcast. If you are new to the IU community make sure you take part in the broadcast every morning.
Not a ton to say on this one but Nate had a killer read on this all day Friday.