Monday, March 3, 2008

Choppy, Directionless and Undecisive Market




A potential yet very sloppy looking higher low was created today. Less is more in this market. The less you trade the better you are off. Today i only made one trade and luckily it was a very nice one but i pretty much just watched in amazement the total lack of anything worth trading. Hopefully this market breaks out of this funk, either or down, I don't care which way, just do it already.

3 comments:

ainkurn said...

i'm with you buddy, this market is crap and almost impossible to trade. stepping up my trading probation to allow for two trades a day right now. I won't be forcing any trades, but at least i'm giving myself the flexibility to take two setups. hopefully we will break this range soon and move on one way or another.

Blue said...

I'm doing the same thing. 2 trades. I shorted MA yesterday at 193 and change, then added at 190. I went long on FXP at 90.50 and added at 89.50. I got out of both positions right before the turn around. Nice $1355.75 day. Best single day I've had trading this year.

I bailed on buying LDK at $25, it's in big trouble.

I like Google IF we get a rally.

GSI lists on the NYSE this week (I think on Wed.), should be interesting.

Stewie said...

congrats Blue. FXP was a very nice trade indeed.

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