Boring day. And dull, dull, dull. Is this one of those "Never short a dull market" days? Or maybe it's a "take the afternoon off" day. Made my little chump change trades this AM. Tempted to short the little bugger anyway. Of course as soon as I do they'll off Bin Laden.
NEVER SHORT unless it is REALLY OBVIOUS like in the case of 2000 when everyhting was overvalued and had a PE of 200+ or no profit. Shorting the market now is suicidal. In 2000-2001 you could have made alot of moeny.
But the market was far from "dull" in 2000 and 2001. Now 2002 was another story. Ha Hardest year to trade I can remember. Market's trying to rally here but no volume. I may try a short in a minute.
It's like watching paint dry the past week or so. The one thing I find odd is the M&A activity. Isn't that a little unusual with the Fed hiking and slow summer months?
================ That is odd M&A, , with rising rates & unusual that a newspaper would buy back its shares when it seems no one else wants them. That may be a helpful thing , that some would actually believe ''never short a dull market'' Intraday oil-gas stock uptrends got dull earlier this year, so it paid to short intraday those dull market uptrends earlier this year. However never swingtrade-short[overnite] a dull oil & gas sector could be a profitable rule. And even if that sector does downtrend eventually, it still could pay to look elsewhere for better downtrends.
We'll tryied shorting YM in the last few minutes looking for a minipullback EOD. Naturally it didn't. Should have read my own thread title. LOL But it did pullback just now and I covered for a $10 loss. Guess I'll have to skip dinner. Should have taken my own advice and went long. But you know us contrarian traders. Wasn't sure how the GM news of more people accepting buyouts and early retirements would affect it.