An old and successful trader remarked to me this was how it felt like in the 70's, completely dead, i belived that particular episode lasted for sommthing like 8 yrs something like mid 70's to early 80's? but in any event, all this is due to a lack of interest by market participants, and negative shocks IMHO take a very long time to erase from human memory. Obviosly, I am hoping it all comes back soon.
I still think it has a lot to do with the government. Why would anyone do anything with all the QE ponzi schemes that the idiot fed is doing?
Is it just me, or is the market stalling out near end of day? Here is spy for today on a 2min...two nice moves in the morning, then just sideways chop with no direction after that. I had nice trades on GS, then tried to get back in for a continuation move up which never happened. The dow was up over 100 pts and I figured surely gs would be a top winner today. No such luck, as I got chopped to pieces giving back all gains. Anyone else having a tough time in the market?
I have changed my rules for this environment, I stop everyday at 11:30est no matter up or down or if I think the market will be active. Alot of activity dies down after this period from the eurozone markets closing. Euro systems most likely shut down leaving the rest of the days trading to mostly american firms. I have given back way too much money trading from 11:30est on, I am going to let the market prove itself and then and only then will I trade a full day again. This is tough because I am used to watching the market the full day for 11 years. Now I go to the gym and do not turn on financial news for the rest of the day.
Today is strange. Lunch hour had huge volume. The selloff at around 11:40 was a straight line A to B. I bet the one who dumped it then was the same one who pumped it up an hour earlier.