Discussion in 'Trading' started by Steelhead, Aug 16, 2006.
is this it til after labor day folks?
I wanted to take a nap, but thinging if something might happen after 1430
check back with The Amazing Kreskin ...eh, Rennick he might have some clue
well I sure dont have a clue at this moment!
For a credit spread trader, quiet will do just fine for August
Not that bad for August, I picked up a $1.00 on CTX and another $1.00 on XOM, 800 shares each.
Took forever but it was worth it.
Picked up another dozen trades for +.10 to +.20 on BA (straight UP all day) and a few others (MER, CTX, etc...)
Very few losers but more break evens than normal.
Up over 2k today, I'm not complaining.
This friggin GLD has been in a trading range for 2 hours.
I'm expecting GLD to drop to yesterdays close of $62.02
Steelhead, last two weeks of August tend to be just like this, before things slow right down from there (laugh)
Basically, it's all about program trade spurts in between coiled congestion from now until mid-September. Tradable, but tougher due to less opportunities of entry = exit.
mid-September into early November last year went from comatose to flat-out wild intraday action. I'd expect the same general pattern this year... at least that's what we're hoping for :>)
Austin, dude I agree 10000%
That time of year to set up the hammock and raise the volume on your alarms...
This is the "grinding" sort of rally that keeps going, and going, and going . . . and next thing you know it, you fall out of your hammock because you overheard someone telling you that the SPX was over 1300!
Great environment for technicians that position trade.
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