While it is true that it was pretty slow today, it was still a good day for trading. The market looks like it will wait until tomorrow afternoon's FOMC announcement to determine if the current value is good, or it needs to find a new value zone. Until then, I expect the same opportunity in the morning that was presented today. It should be a good morning for trading and then it will be time to pull up a chair, grab some popcorn and watch the melee ensue at 1:15 when the Fed makes their FOMC (interest rate) announcement.
We also have some big news about an hour before the cash market opens that could present some decent opportunity. Consumer Price Index and Housing Starts figures come out publicly at 7:30 a.m. Those can be like roller coaster rides and are not for the faint at heart. There is no planning for those trades. It is all reflex and reaction. A run can be over in seconds and back down in seconds again. I trade very small or in "sim" in those cases. There's no need to gamble when trading.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment