Day Traders who were Blindsided the Entire Year Suddenly Know Exactly how to Play the Election
Day traders who were blindsided the entire year by the March crash, the massive rally, and every other market move in-between suddenly know exactly how to play this uncertain election.
Last week, all of the “day traders” on Facebook were sure that the market would collapse the week of the election.
This makes little sense, since everyone has known who the candidates would be for most of the year. Also, markets rarely react late to a known event; if anything, last month’s market slump was the selloff before the election.
Of course, markets are up big this week and the crowd consensus was way off.
But now, those same “experts” have exact knowledge on how to trade the market today. Many even can predict the winner of the election with 100% certainty based on the random movements of the market.
When you ask a Facebook group for trading recommendations, you’ll get a bunch of trading “experts” who somehow know exactly what the market will do tomorrow.