Tim Knight shorted a chip stock, got nervous after Google's new spending sent it climbing after hours, and nearly bailed. Then he woke up to a 15 percent drop and a clean profit. His takeaway on a red day: trust the charts, not the emotional snap decisions.
He calls himself a great chartist and a mediocre trader, and walks the tape to prove it. Crude oil broke out above its long right triangle even as he refuses to short energy, the S&P sits in a range with a small topping pattern, gold's bounce faded, and chip suppliers ripped on the AI spending wave.
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Chapters
00:00 A red day and a happy bear
00:59 Crude breaks out, why he won't short it
04:46 The range bound S&P
05:47 Gold's bear market isn't over
07:02 The Nasdaq and the chip paradox
09:12 Gr...