More and more lately, I'm seeing stocks put on these huge intraday reversals, which is bound to be infuriating to bulls and bears alike who are getting stopped out of positions only to see them move the other way minutes later. It happened to me last week with symbol ABC, but a couple of stocks that I do not trade caught my eye which had this happen to them big-time.
They are shown below. These two tickers, NLY and AGNC, apparently are a couple of mREIT issues that got completely spooked at the prospect (no matter how remote) of a U.S. default. These things plunged something like 20% at the opening bell, only to completely reverse by day's end. Except for the handful of people that can claim to have bought at the open, just about everyone associated with instruments undergoing such short-term turmoil would have become unnerved (and/or stopped out).
I point this out only to say that, with all the cross-currents swirling around us, trying to make a profit trading seems harder than ever, at least if you're the responsible sort who likes to have stop-loss orders protecting your positions. Be careful out there!
