I couldn't help myself. This was on MSN. Guess I am not in heaven. 16:15 ET Dow -6.66 at 9333.79, Nasdaq +11.49 at 1782.14, S&P +0.06 at 996.79: [BRIEFING.COM] It was trader heaven today as volatility reigned supreme and the indices spent the bulk of the day chopping around...
I hate market commentary like that. As if somehow traders love to get whipsawed in a five point range. The person who wrote that obviously has never traded a day in his life. Sure, it would have been POSSIBLE to trade the range by selling into every buying effort and buying into every selling effort, but doing so would have required the pre-cognition that the market was not going to break out of the range at any point like it did yesterday late in the session.
"Close: It was trader heaven today as volatility reigned supreme" This is also at the finance page on Yahoo--I laughed myself silly when I read it. Doug
Does anybody trade stocks anymore? The volatility on some of the NASDAQ momentum names was the best I've seen in a while.
Yesterday was ok for me. Near the open I bought a penny stock called TVIA. I was watching TV and a few hours later when I checked my positions I got a nice surprise.