The doji bar @ 1325 scared me, so I decided to get out @ 1264,60 for a 1 point profit. Chop chop. I find that it is hard to trust any signals during this time of the day. I have considered making it a rule to trade only during the open (when I`m able to do that) and the close. The thing is that some sweet moves do materialize during lunch hours now and then, but probably more often than not we`re just chopping around. Some days it seems like we`re just chopping around during lunch hour, but then the market has suddenly traveled 4 points or so anyway, which would have been a good trade. I will not be surprised if we do touch 1268 before the last hour of the day, chopping away slowly upwards. Any thoughts? Opinions?
Obviously, the mean reversion favors the bulls so you're better off sticking to the long side. But it just so appears that this market is about to reverse in the short run (eg. daily), no?
Something I still forget and get reminded painfully... Think in Probabilities.. Don't you want to take advantage of what happens "most" of the time? If the afternoon is dangerous most of the time why bother?..
AAPL a problem for shorts.. Until it fails/plateaus the music will go on.. Maybe after the Verizon/Iphone thing tomorrow? Seems Long NQ dips and shorting ES highs a good idea.