I was waiting for a big snapback rally and I missed it because the bots started the rally overnight. Now after this 30 point surge, we are back in no man's land, where there are no trades to be made. The trading has flatlined for the day.
P.S. This is your Santa rally, if you didn't get long yesterday at the close, you missed it. The fuel has been all used up.
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The information contained on this website and from any communication related to the author's blog is for informational purposes only. The analysis and commentary do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading or investment strategy. The materials on this website do not constitute an offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.
4 comments:
Owl, do you think the market will revisit yesterday's low this week?
not sure about the market, but banking stocks will surely revisit yesterday's low. today is certainly a bear rally. Tomorrow might be a good time to buy the dip, and hold for couple days before bear returns.
MO, Why not trade the ES too? You could have had all you wanted @1204/1205.
I see no edge either way. If we get to 1255, I will be interested in taking a short stab. I do trade the ES but I don't trade 24 hours.
Not interested in the long side at all after a 40 point up move. And would wait for higher levels to short.
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