Going to start a poll for the day on how many of you actually traded somewhat active today....how many of you quit trading right away after you saw this slop...or how many of you decided to start weekend early and not even trade at all today.
One of the things I think is interesting, and perhaps somewhat hypocritical, about the markets, is how they are just soooooo important to the existence of life as we know it.. .. except between the hours of 1130-1400 ET every day, after 1200 on Fridays until Monday morning, and after 1200 on days preceding market holidays. Some days you'd think the whole thing was going to hell in a handbasket, unless it's lunch, or Friday afternoon! Years ago when I left the Spoo pit to go tread water in a small college town for awhile, I couldn't even find out what the Dow did each day. No one cared.
Sent opg short orders for all the electric utilities, 8 fills, 7 wins, avg 30 cents each. Still trading, but light. Will be starting the weekend early.
The only thing that keeps me here is the option expiration. That might turn things a little interesting if the market moves to the extremes (which so far doesn't look like it's going to happen). In any case, I'm here (on ET) because, as you know, it's not a very interesint day. TM Trader
One contrarian at 12% plus. This is the CCC of IT leg 6 for the ES03U. CCC is congestion (lateral narrow channel (chop)), convergence (narrowing of channel), and centering (pennant, usually symmetric) IT the Itermediate Term channel of quarterly length (lateral (60 points wide per traverse) see 60 min chart. Six traverses so far. Leg 6 this is 8 days so far and 30 points profit. Other legs yielded about an easy 35 point average on the 60 point potential. We just past the 1/2 way for ES03U and it is a 1200 point quarter (estimated) this time plus intraday trading. The YDT daily ranges now a days are near the top ranking from narrow to high volatility.
I agree with you totally! There is such an "idealogical" concern about keeping the markets open, yet there are times during the day ( as you stated ) where no one really cares. Small college town, notwithstanding.