After trading sharply lower into the close yesterday, US markets continued to drop precipitously overnight and it looked like the Dow was set to open at least another 300 points. However, markets rallied in the early morning and then again in the last few hours to take us to what looks like a green open. The volatility is tremendous, even during non market hours.
The NYSE is now 20% off the highs after yesterday’s close. The action has been fierce, unforgiving, and has taken no prisoners! Even those with the right thesis had a hard time handling the volatility and relentless selling.
This is the type of action that can put stubborn traders out of business. This is the type of action that can cause hedge funds to explode. OR, this is the type of action can be the most profitable as volatility spikes through the roof and ranges expand. It’s not easy, though, and takes a lot of skill and discipline.
Scott Redler is the Chief Strategic Officer of T3 Live. He develops all trading strategies for the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader. Scott Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financial community for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Scott moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young traders in the firm. As a manager at Sperling Enterprises, he maintained his status as a top trader in the industry while working closely with all traders in the firm to dramatically increase performance. Scott has participated in more than 30 triathlons and one IronMan triathlon, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business and Bloomberg, and he has been quoted in the Wall Street Journal and Investor’s Business Daily among other publications. Scott produces much of the media and content available to subscribers and followers. T3LIVE.com is an online financial media network and education platform that provides active traders and investors with market analysis, real-time access to strategies, and in-depth training from real traders, real-time.
*DISCLOSURE: Scott Redler is long (NYSE:SPY)
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