This grind, grind, grind down is ABSOLUTELY NOT the kind of market that produces bounces. It just sucks in lower and lower levels of bargain hunters who wake up the next day down their expected gains for a year. Very cruel.
This is NOT the kind of market for those who expect to buy something and "go long", sit on stock for months or a year and expect a gain.
This type of market has lots of "bounces" in a day, but it's strictly a "hands on" day traders market. It's fast and furious 'hands on' trading. Unless you are carefully watching the level II bid orders, and catch those bids on the up spike, you'll never make anything.
Absolutely. The only folks I know making money are those who go home flat every might, win, lose, or draw.
It is true that you might have gone short this market over the past few months and sat on those positions, but it is also true that if you had done that virtually any time over the past few years, you would not be alive to execute that strategy.