When you have such a tight range over the past several days, there isn't much to do. It is tempting to attempt a short here but with Bazooka Mario on Thursday, I would rather just wait a bit longer. It doesn't bother me too much if I don't take advantage of a mediocre short opportunity. The shorts will always be available for the S&P skeptics, as the market spends a lot more time near the tops than near the bottoms.
The surprise move of the day is the big time rally in bonds, even with strong stock market. I definitely didn't see that coming, not with nonfarm payrolls coming up on Friday, and the much anticipated Fed rate hike in middle of December. Trading is a game of probabilities, no matter how certain you are that something will happen, nothing is guaranteed.
October was a good trading month, November not so good. It is a grind out there. Will look to short WTI on any rallies up to $42.50, with a target of $40.
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