It was tough placing my buy orders this morning

aus_trader said:

This volatility is setting records, another one as 'the largest one day turnaround' to go down in history on this spooky Friday the 13th

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Does anyone have a crystal ball to look into the near future to see if this is the bottom or a short-term bounce ?

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Quite uncanny you ask re; is this the bottom or short term bounce....as I was just running a few thought processes on this matter.
Short answer yes and no on both...

Most people have got wind of the markets dropping by now...
However, it's likely that Monday will bring a new set or wave of investors/ trader's to the fore, looking to offload.
Then, there's the bargain hunters, probably going for the market darlings that have been hammered.

Then we can consider that the market closed +4.5% on a sharp high with a trading range of ~15% today!

I would expect that it continues on that sharp rise Monday morning for a period, before you know what...

It's a bit like a boulder full pelt down a hill, hits a sideways log, goes flying up...at a guess, it's halfway up on this bounce, so another +%5 or so before the inevitable...

As long as the virus is promoted by the press, it's a bear market overall, but with swings of 15%...at the moment, the short trade seems to be enticing...turn the charts upside down, mirror image so it's still going left to right and look at it from the going long perspective... just a thought.
Pretty sure China is close to being back or capable of being back to full production. No new cases, virus fairly contained.

F.Rock

fiftyeight said:

I also made my biggest purchase in a while today, more gold through SAR. I don't think it is what you meant though

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Well that was a long 'long trade' and the opportunity cost is likely higher than any profit I do take.

I got a number of things wrong on this one, like a lot.

Now have my 'mental' SL is at BE while I decide what to do longer term