Goin’ Nowhere Man
Making all our plans…
Having a plan is one thing; adjusting and being flexible in our thinking is another. I like to have my 80/20 rule in play: the general “range” and type of day may be reasonably close to my expectations (within a few points) about 80% of the time. Surprises, marginal breaks maybe happen about 20% of the time.
Not a hard and fast rule, just a reasonable expectation. So most of the time we can “drop back a level”, and perhaps find another opportunity to play contras, or certainly “peel out” if we have multiple contracts that are profitable.
Outlier moves that really can fool us are the “no rotation” type days that we call Rabid Dog Days.
Like golf, course management is important so “one bad hole” doesn’t take us out of the game.
Doesn’t have a point of view,
Knows not where he’s going to…
Friday’s tight range was partially a function of digesting recent gains, and also tied in to the Option Expiration trade.
Pre market suggested another tedious day ahead of us. Short side had a marginal edge for testing a few points into the 5 range, but the blue line suggested shorts would not make a lot of progress south side unless a major news event occurred.
Despite some snow in Chicago, it felt like a listless summer Friday.
Same support zone as yesterday until broken.
Isn’t he a bit like you and me…
It snowed this weekend in CT, but I refused to use my shovel.
Lucky for me, I am in Florida right now and goin’ nowhere…