About Traders Path

Peter's Update March 12th

Good Morning,

The major indices are down sharply in premarket trading, and the futures have had multiple limit down halts. I think there will be some very interesting trade opportunities in the coming days, but this morning we really need to let things settle in before I can come up with any sort of watch list as virtually everything is down sharply other than corona virus plays, which are mostly gapping up to levels where I do not want to chase them. I hate not putting a watch list out, but today is a day where we just need to watch the SPY and some names like AAPL, FB, AMD, NFLX, and others just to see how this gap down gets digested before we can even come up with any watch list or trade ideas. I will also be keeping a close eye on the VIX, which is still showing no quit here. I can't stress enough that cash is a position here until things settle and that any trades you take should be in very small position size to limit risk. Be patient and careful folks - better conditions will be coming soon.