6 point trading range today.......harbinger of whats to come in december........markets are tired after huge trend moves in indexs, bonds, oils, currencies, stocks in november.........i expect it to be a very range bound month......taking lots of days off.........or trading half days this month.
Agreed. The last week or so has been pretty slow trading. I usually take off the whole month of August as well as a few days each month in June, July, and September. However, this year I didn't take off more than a couple of days all summer. The market was just too active. I always get a kick out of the newbies who start threads like, "It's 10:15 and I already hit my daily target for the day...I'm going to take the rest of the day off". Meanwhile, the market is ripping all over the place on massive volume (e.g.- July-November). I mean seriously...if those guys owned an ice cream store, would they close on the hottest days of the year after they sold enough to hit their daily target? Of course not...they would close in January and February when nobody is coming into the store. All the guys who have traded through brutally slow stretches....spring and summer 2001 (right after stocks switched to decimals) , most of 2002, summer 2005.......know that they have to be around when opportunity is plentiful. I don't think we're at the end of the "good trading" period quite yet. But I can certainly see a very slow stretch coming by next summer.