Tuesday, December 1, 2015

Mind Numbing

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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