The Nasdaq was very worrying last evening as it plunged -522 points with so much uncertainty and sellers throwing in the white towel. It was due to high inflation rate and the Fed was going to raise high interest rate which caused worrisome for some growth stocks and the overall market in general. Stocks like Meta, Amd, Microsoft, Robinhood all plummet with high volume of sellers looking to take profits. Some sellers even short sell the market was the sentiment was really sour. I traded $23,000,000 worth of stocks as reflected in my contract notes and of course I made some great profits from it. I took advantage of the selling and whack quality stocks for some short term punts.
So is the market crashing soon? To be honest, the market has already risen so much and of course I do expect some profit taking which happened the past 2 days but will it crash 10%-15% more? It is high likely because of the new strains of the omnicron virus and the Fed I believe is going to raise interest rate 4 times this year. If that really happens, we are doomed and we need to look for other alternatives like options or CFDs to short the market. Whatever it is, I believe the key is to stay calm and study the turning points in the chart first before taking a calculated punt. Let's see!
