The Mind of a Day Trader

Hey guys. Thanks for submitting some Qs. I'll start by just briefly discussing some thoughts on the state of the market right now, what's been happening, and opinions on why. I was having a discussion with one of my trading partners the other day, and we were just going over what's transposed over the last week or so and talking through the cause of this sell off. You can try to use all your brain power and come up with the most complex explanation you want, but as with most things in the market - the real answer is usually much simpler. What really makes the market move? For the most part, the answer is catalysts. Forward looking events. For the last year or so, it seems the markets have been "pricing in" this recent tax cut plan. And usually, the markets never get it right the first time around. Moves are often overdone in both directions, and then add in investor emotion, and you end up with an overshoot. What appears to have happened is a large overshoot t