For a moment I thought that they nuked Iran at 10.00. Just happened to be the factory orders that were released. No tradable move at all today, for me at least. Like that market dropped in a couple of seconds...., after that chop chop again.
Just wanted to see which styles of trading are above water today... I am position trading (buy/hold) techs.
The best style for today was to hammer the 10:00 number, log off by 10:30, and start the NFL kickoff party.
Intraday swing is working ok (ES contract). Bought the break above HOD at 880.50 and reversed on the breakdown at 881.75, leaving 7 points on the table (but thats the breaks of longer term trading). Currently short at 881.75 planning on a drop to the close (currently have a 7 point stop loss).
Ditch, I have the same feeling . As 09/11 is closer, the marker is much more tough. Very nervous, no real moves up or down. I have to sit on my hands to avoid losing trades in days like today. Hope after 09/11 will be market more volatile.
Closed short positions with trailing stop at 777.25 for total 5.75 per contract profit on two trades. Quit before close.
good point...also had a small window on the Mc Teer comments.. this was a day where you had to ring the register constantly...holding for even a minute could turn a winner into a loser
I too think the market is really weird . The euro for ex, what the hell happened after 10:10 ET ? it sold off hard when S&P was going down too. See how 2 reversals days on NDX failed to follow through I am surprised Naz was not down more today. No follow through on intraday BO either. 2 2min trades one tick then even (NQ) take it easy