evening folks! Mother market just couldnt make up her mind and ended up kicking everyone in the balls. Nobody really knew what the F$@#$@# was happening. I told our guys in the chatroom not chase this gap higher as we would smack right into resistance from previous day and we did that and then spiralled lower quickly. Only to base out and coil and make a run at 1pm getting everyone all giddy and then bam! oil check!
This was a tricky day to trade unless you have to ability to be very nimble and can move in and out of trades within the hour. Otherwise the bears lost money and the bulls lost money. I must say going through the scans though even the indices looked pretty flat there were far great number of breakdowns then breakouts in individual stocks. Hot money was flowing in the smallcap sector led by VRNG, ECYT which gave numerous opportunities to make money on the long side and then late in the day some very easy short trades. Im not seeing any signs of rotation out of this yet so im anticipating another nice day for momo traders tomorrow.
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