Monday a gap up that held. Today a gap down of about a 1/4 of a %.
These choppy markets are the most difficult to trade. No trends to hop onto. Breakouts get whipsawed more often. Mean reversion setups are few and far between.
I made 3 trades yesterday with gains on 2 but still a small loss for the day. In addition, I have 2 medium term swing trades going in SOYB and WEAT. These have the potential for large gains while having a short leash on losses. My kind of trade!
Today for me it’s more of the same. Assess the markets the first 15 min or so and then look for short term trades.
Not much in the way of news overnight. But no improvement as I can see in what is simmering in the background.
We also are less than 30 days from the presidential election. I expect things to get crazier than they have been if that could be possible. The markets have pretty much ignored the election insanity but will that continue? Hard to say but something to be aware of.
If you want to follow some of my trades along with my thoughts typically given after the open you can go to @rickjswings. It’s my private twitter feed for the stock market and its free. Sports Handicapping is the subscription-based part of this site. But considering the cost of joining it’s almost free:)
Good Luck Today
RickJ’s Handicapping Picks