Greece is in the news, and will continue to drive markets for awhile.
Premarket, the trade was weak, and trend well established.
If we get our major premise right, then we have a chance to win a few laps in the race.
Premise today? Forty points off the overnight high, so shorting at the open is out of the question. SOH or buy for bounce.
How high the bounce is the question , of course, after the love is gone and the momo wanes.
Not every inch of the ranges are tradable, especially if news is part of the time zone.
Sometimes, we take breaks, take a walk, whatever.
We try to catch chunks of the ranges as the market fluctuates.
The Angels and Demons were significant today, and allowed range traders who could flip their bias quickly to capitalize on the players as they marched up and down the field.
Football season anyone?
I know Bama will be glued to the game this weekend.
When the pigskin is slippery, there are more turnovers, more fumbles, more in-completed passes.
Today’s rhythm allowed one -way traders to make profits as well, since unlike yesterday morning, the swings were large enough to provide reasonable profits if a trader wanted to take only trend trades or contras.
Relax and feel the rhythm.
Racin’ in the flats…