Market mayhem

Some time ago I blogged about the virtues of day trading as against the more conventional
and generally favoured longer term positions .The argument against day trading is that it is akin
to gambling and not better than hedging your bets in a casino..There are merits to this assertion
if one practises this form of trading without proper technique or a good understanding of the stock
market..but with sufficient training and good technique one can actually make consistent returns (although
not necessarily astronomical due to the short time lag between buying and selling ) .On the plus side,the closing of most if not all positions within a day provides a safety net against violent market fluctuations or
volatility as what was witnessed today...A drop of more than 40 points all in a span of one day in a low
beta market like ours does "shake the senses " and when translated can mean a substantial wipe out of carefully planned and diligently crafted stock positions taken over a few weeks or months even...It is  wishful thinking that one could have "anticipated " the fall today considering that the much talked about driver or
"excuse " is the impending general elections ,an expected development which is not new to the market.

The fall has put many on the defensive by market close..several support levels were broken along the way.
All is not lost though...as astute trader would be watching the market like a hawk ,hoping to catch a market rebound and make quick gains along the way.If probably executed, a volatile market like now gives ample opportunities for day trade .Once the market finds a new comfort level more selective longer positions may be taken on  badly beaten down favourites eg O n G counters with ongoing contract awards.Either way
stay focus and one can ride out the storm...