Early this month, Wall Street learned the hard way that no market is unstoppable. Before the tech-sector selloff, some investors had an arrogant attitude towards the market. However, that has changed, and the majority of them are nervous as the market just betrayed their belief. The sudden change in attitude has caused a low-volume market. Considering we’re in the summer, this is an unusual situation on Wall Street. Below are some ways you can make the best out of this situation.
Your primary strategy should be a proactive one. The aim of such an approach is to make profits from a choppy market. Thomas Kee Jr., a contributor for MarketWatch, has developed a proactive strategy he calls the “Lock and Walk.” This approach entails using the resistance and support levels of the Proshares UltraShort and the NASDAQ 100.
You take action when the levels are either broken or tested. Thomas mentioned that this strategy is somewhat similar to the regular technical analysis that requires the trader to sell near resistance and buy when the support approaches. Lock and Walk isn’t for long-term positions as it closes the trade after a gain of 67 points. The aim of this feature is to lock in profits and wait for another trading session to gain more profits. It’s a simple rinse and repeat method.
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