Don't catch a falling knife or falling plane. Fasten seatbeltsWell, if there was any doubts that trading was much better than investing, this recent market correction certainly proves trading outperforms the investment "buy and hold" trainwrecks! Poor little retired investors who just saw their AC investments chopped in The chart I'm providing today is simple since I'm too busy trading that creating fancy charts. It's a day chart. We are seeing a descending triangle setting up for a formidable reversal pattern when the blood stops gushing from this bird. For AC, if you can't read minute charts, best wait for a confirmed reversal before risking a penny here. Not for the faint of heart or rookies. You need very short term trading abilities to make serious money. Wild volatility makes this a very profitable trade without having to risk short selling at or near the short term lows. Seriously oversold RSI of 11 on the day chart and numerous other time scales. Dangerous both long and short. Don't buy and hold. Don't short and hold here...
Ladies and gentlemen, please fasten your seatbelts. The turbulence is far from over in the wider market and in the Canadian skies.
Stay safe and hug your neighbours in a socially distant way!
