I am a short term trader and never leave my PC when my money is somewhere in cyberspace, let alone try to sleep well when I go to sleep not knowing if I will wake up richer or poorer. To do either would be irresponsible, IMO.
Some you guys really need to take an introductory macro econ class. It seems a lot of people here confuse economics with sociology.
Right again.... I cant wait for the bull market to return, how quick are we getting to 14k??? I need to know so I can get ready for this major bull market....
Today's light volume is troublesome for me. I'm long ES and debating when I should sell. Either today's volume was the sign that there were no more buyers, or people are waiting for a little more move up before jumping on I'm not sure which.
This is a sucker's rally. The market will have a very tough time eclipsing 1050-1060 on the S&P, which is the area where the market topped out last Tuesday. If we were to fall 30-40% in the context of a long term bull market, I would be bullish. But, we fell 30% in the context of a long term bear market. Big difference between 1987 and 2008. Look for a trading range to develop leading up to the election, sell rallies and buy dips.
I sold ES above 1050 (sold 1058.00) on the last rally, and I will stick to looking for ES short trade set-ups in that area above 1050's again.