No trades till next year?
I don't know... the action the last couple of days tells me I should just wait till the beginning of the year to trade again. I really don't like wasting time following a bunch of duds that go nowhere. Plus, it's not like volume's gonna pick up during the holidays.
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7 comments:
nr7,
I get distracted from my short scan premkt/open as the day wears on as if there are better trades somewhere else: aciw 3,5/15 star 2,16/15 psys 6/15. Longs: psec emkr kwk dwa drsys cha cmg dlr. Traded aciw 3/15 psys 5/15 for latte. Need to work on my exits alot more. I get ansee or I might not feel comfortable with gaps yet, or shorts. TraderX did say that he had noticed a change in the gap plays. Maybe the market being toppy or volitility. Group action has been pretty wild: the solars, shippers, brokers pivoted with SPY at 12 est...like everlything else! Yea, I hate going for breakeven trades.
bl,
Where did you read this comment from X ?
In the last month or so of his blogging as I recall.
nr7,
Fri am: MS reports loss, 1" chart 5/13 ema trades up a bit reverses, reverses, reverses, reverses for 5-6 pts. Put them along side the other brokers, $xbd and SPY. Do the same for solars, shippers, airlines, or beta, high rsi groups. Quite amazing! I'm leaning that way at the moment and it's a bitch to break old habits.
Elder said in non gap trading trade the extremes, the pivot points. O'Niel said trade the strong groups: look at the market, the groups, the stocks in that order as 80% of stocks go with the mkt. I remember one trader said he trades the first hr and that it. I believe it. I'm venting my own frustration here. A beautiful day and Merry xmas.
Merry Christmas and Happy new year.
thanks hammer... same to you. I hope to have a 'year-in-review' and '2008 goals' up within the next couple of weeks.
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