The market is off to another tentative morning, as traders still wait for an update on variant news. The market crashed hard Friday, with the Nasdaq down over 2%. There wasn't much support throughout the day, and the market seems to be set to do the same this week.
#Crypto also wasn't immune , dropping this Saturday to $44,000 , down 17%. It has edged back some, but there still continues to be downward pressure overall, as more and more government regulation and oversight seems to be coming in the future. Government regulation is going to kill a lot of the smaller coins, put a lot of influencer pump and dumpers in legal trouble, and you could see an overall dismantling of the coins as goverments seek to make an official country #cryptocurrency
The stocks we are watching are down huge again in the pre market. #GME is off 5%, #MRNA is down 6%, and #TSLA is down 2.5%. This is after a continued sell off all of last week. With the current market uncertainty , the best strategy this week will be to scalp. There is too much swing to properly execute strangles and credit spreads. I see some play for some long positions coming into today, but I will mostly be aiming my sites at the #VIX, which we shorted on Friday as it broke over the $31 price range.
Look for new posts this week covering new trading strategies, live tips, and my traveling posts as I am to take vacation traveling Europe for the next year.(While trading of course)