yesterday you had the fallout from the feds decision to hold interest rates, the wishy washy statement on future rate hikes, a whole bunch of bad news in the stock markets with automakers, banks, and credit in trouble again, gold and oil were moving up pretty good, the dollar index was down and the vix was up, throw in some risk aversion and some end of the month profit taking and you have the drops you seen yesterday.
today we had decent news, keep an eye on the news releases, wait for the stock market to open as the futures are down and see what direction the stock market is going and trade the momentum.
if you are ever in doubt about a trade, STAY OUT and wait for the right setup to come along
Joined Dec 2007
Status: Elite Scalper
If you don't know which way to go then stay out today and find somthing better to do, it's better to end the day at $0 then negative, probably better to have your husband cut you off then the market take your money and your husband cut you off lol