Wednesday, September 19, 2012

Still holding.

No changes again today. All systems remain short. Feels like this market is going to make a decent sized move soon. I would guess the move would be down, but I've been wrong a few times in my life. :) See you tomorrow!
J

3 comments:

  1. I 'hope' this isn't one of them... It's been a sloooooowwww couple months.

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  2. No doubt, it's been tough trading. ... mostly because the price action has been that of big surge days, followed by multiple very narrow ranged days. Not fun and not particularly profitable to trade. The good thing about the stock market is this: If you ever do or do not like how it is, just stick around... it'll change. I guarantee that.

    VIX is in the 'slow grind' zone below 15... and often that's where local tops come into the mkts... you just have to be patient. As long as the VIX is down here, the ranges will suck, and the trading will be skimpy.

    What I'm curious about is the price action in oil. Often that can be a leading indicator -- in this case of some slowdown being priced-in by someone. We'll know in a month or so.

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  3. If the bears are to get much traction, they need to gap the mkt down open Friday. Doubt we see much until then, as they peg the mkts to bleed premium off the options. Boring as hell for swing traders,but it makes oodles of money for the option sellers.

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