06/16/09 Market Recap – 4 trades, 11 points available
Summer is in full gear, which means the volatility and volume is lower than usual. The best thing for me to do right now is sit back, relax, and wait for our high probability setups. A trader who tries to force this market will surely get chopped to pieces. A patient trader has a greater chance of protecting his trading account and maybe make a buck or two.
Today, we started off in a bit of a channel. There was one short opportunity while in the channel, that could have taken about a point (if you tried to trade the channel). This damn channel stayed with us up until lunch when we finally saw some selling pressure come in the market. We were able to get into a low risk short that ran for about 7 points. Shortly after that, we hit another 2 shorts that racked up about 5 points.
Even if it's a little slow, the opportunities are still all over the place…
















