Why I have I been shorting this market all day?!?! It doesn't look weak?!!? It feels like bs strength nevertheless I keep shorting!?!? I'll cover at the close but feel like a foolish trader today... been averaging up all day. I never do that. I deserve to lose today but hope I get lucky.
Dude...preholiday bullshit.. Plus, it's the first day of the month, which is usually a bad day to be short...All the dipsters are out in full force, moving the market to where it was on Friday on 1/3rd the volume... It truly is amazing... Plus, the Dollar is getting smoked...wink wink
Yeah, action seems strange which is why I'm acting like a piker today. Normally I don't mind taking a small loss but can't do it right now. Waiting for the selloff that won't come. Like I said I'll cover at the close and head off for my vacation.
not one slight pullback all day, market has been stuck like this for 4 hours, talk about boring. I sold off my last long positions this morning, was waiting for some type of dip but nothing. BORING DAY!!!
One of my rookie tendencies on days like today is to try to force trades that I know are unlikely. I'd rather take a boring day without losses then with!!! I had a couple chances to take a small profit but didn't :-(
The market appears to have shrugged off interest rates, oil, inflation, subprime, and now terrorism. As a trader I don't much care but on days like today when I'm acting like a piker it makes it impossible to cover my shorts!!
2/3 of the gains happened overnight in the futures, then we gap up and trade sideways all day. Hey its Americas birthday it always rallys leading up to the 4th. Gotta make it look good. I suspect earnings will come in all right, and we should see alot more gaps in the coming weeks.