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Four trading days, 26 little hours. That – and a tariff tweet – is all it took for the big indexes to go from fresh all-time highs to the most brutally punishing day of 2019. The CBOE Volatility Index, the VIX, read 23.93.
Investors who'd been buying cautiously on Tuesday slipped back into outright panic yesterday as the Dow alone was down nearly 400 points at lunchtime.
That itself is all I need to know that this won't "blow over" anytime soon. Stocks will have to find their floor, but they're going to have a hard time doing that when there's this much headline risk out there.
I'll let you in on a secret – it's kind of a "hideout" I use when the market just goes, well, crazy like it's doing right now, and like it probably will do for the immediate future.
My hideout's not a secure panic room, or a bar, or anything like that – it's a special trade. It's always wide open and uncrowded at times like this, too, so the chances to make money are much better than with other traditional "safe havens."
About the Author
Tom Gentile is one of the world's foremost authorities on stock, futures and options trading.
With more than 25 years' experience trading stocks, futures, and options, Tom's style of trading systems and strategies are designed to help individual investors propel themselves past 99 percent of the trading crowd.