March 12th Daily Market Comments

The best way to trade this market is to be sitting in cash. No matter what trading strategy you would be using Today, there is no rhyme or reason in panic selling. The best thing to do is watch to see when the panic selling is over. Watch your 10 minute chart. Currently the market indexes, after opening much lower, have not sold off from those levels. Be patient, the herd mentality will be graphically illustrated in the candlestick charts. Be ready to buy. Note that the NASDAQ is currently trading above where it opened.