Random Thoughts
As I've been saying, a few big up days would make all the difference in the world. Obviously, we didn't see any follow through on Wednesday. So, this keeps us in one-day-at-a-time mode.
So, what do we do? I think the plan remains the same:
1)Honor your stops on existing positions just in case this turns into something bigger. 2)Be selective on new positions. Trade the best and leave the rest. 3)Wait for entries on new positions. Again, as I preach, this can often keep you out of new trouble. 4)Start thinking about firing off a short or two but keep #2 and #3 in mind.
That's my story and I'm sticking to it.
Futures are flat pre-market.
Reminder--Chart show today. Call in sick. Dress casually, drink plenty of fluids, and bring plenty of questions
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Best of luck with your trading today!
Dave
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Expert swing trader Dave Landry comments on the charts for the major markets, indexes and sectors for the upcoming trading day in his daily one-minute video.
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