Market is almost open and the futures are testing the overnight lows. Off about .4% do we get a continuation from Friday or a bounce today? Let me know if you have the answer. You can email, tweet, or phone me:)
I am flat this market after making a quick two day trade shorting the DAX for +4.5%.
That is the swing trading opportunity I am looking for again today. I have a few ideas but the environment right now is not conducive for playing around in the market. Just think of the people that were short LNKD! They are most likely heading to see their bankruptcy attorney this morning:)
With the Fed and UK referendum coming up expect volatility in swing trading to be off the charts. The odds have decreased dramatically as to the UK staying in the EU. Also rumors are flying that they will be leaving and that the effect will be catastrophic. The typical day to day news of course.
Myself I think this is a great opportunity for swing trading to the long side. Only problem is the timing of course. I will have more on that as we get closer to the vote. A lot is going to depend on what the market does prior to the vote. Should be very interesting to follow.
My trading this week is going to be very light with only very short term swings. I have no desire to be on the wrong end of a news event.
We are 5 min into the market. Market has bounced a bit but $ADD is -1200 so I expect this bounce to fail and we head down for new lows very soon this morning.
You can follow my swing trading at @rickjswings. Its my private twitter feed and its free for now.
Good Luck Today
RickJ
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