I have been trading fulltime for 5+ years now. If my memory serves me correctly August has usually been a bad month for trading (IMHO). So far it doesn't look like this August is going to be any better? Just not seeing much going on the last couple of days.... Maybe it's just me? Leland
I thought it was me having a bad streak or something. Every setup I have found this week does not follow through. No buying at pivots just breakdowns all over. I will go look for some porn now.
short is the way to go (still and again). however august being usually low volume is tricky and dangerous. sharp reversals and all. many trading styles would require, at least, to reduce size and some just to switch to golf indeed. markets are always tradable though. they may not be tradable with your regular plan, that's all. in my case, I reduce size and when it's sunny do something else. We don't have to trade all the time you know...
There may be some volitility on the 14th when the outcome of whether ceos will sign off on earning statements. If some major companies decide not to sign off, there will be a reaction in the market
True, True, True The middle of August is notorious in the commodities industry for big reversals, I don't doubt that the 8/14 sign off will just add a little more craziness.
just for fun i compared the recent daily ranges of nasdaq100 with those from late 97 when the index also was around 1000. if we get back to such low d. r. ...