Discussion in 'Trading' started by sahheng, May 28, 2004.
Holiday Monday, half-day for some products today.
Lead in decatur number on line ET. In specially, not member number. Lurk high, volatile low.
Plus everybody made their money on Tuesday. Why not make pop a top and make it a four-day weekend?
Some sick moves this week, MDT, GDT, BSX, I can just keep goin.
Today is aight, some stocks making some moves.
I measure volatility as the individual bar hieght. The H/L is not where I measure volatility.
That said, I feel the bar volatility today is above average for the bar volumes.
Mostly today I am viewing a narrow H/L range of trading almost half the overnite H/L accumulated over 18 hours.
Therefore the channels I see being traversed are largely lateral channels.
The result of all of this is to make reaching a daily goal easier.
Several reasons form the basis for this view.
1. the market is orderly vis a vis entries.
2. there is a very short cycle time to get the range in effect covered.
3. reversals are likely for taking profits.
4. There is no chance of falling off the edge of the Earth.
Some disadvantages that pass in a short while:
1. You may be upside down a little on volume bursts that extend the overall H/L for the day.
2. low volume, today takes you in the DU where the pricce moves are mostly drifts on "noise"
The net effect:
Doing 4 points and hour per contract is likely for intermediate level traders. This get you to a place past a level of 3xH/L well before the end of the day even if you sideline midday.
Under most circumstances it is difficult to attribute any day of the week as a day that is either good or bad. People who do that are usually marginal tradrs oriented to playing the odds. You Have to get past that thinking sooner or later.
What you do is assess the opportunity and be very efficient in handling it. Making money is not playing baseball doing "baggers" it is like looking, instead, at what the money velocity is. Today the combination of events makes for a high money velocity day.
Number ET poster fall below standard derivation. Lurker also. Outburst is possibly.
Signs-on ups, market sleep. Lurks tells.
Always dreary on a holiday
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