Monday, October 12, 2009

Monday Mid-Day

"October is particularly a dangerous month to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February" ~MarkTwain

Not much you can't all see with your own eyes so far today. As Fuji mentioned, you can almost set your watch to the rhythm of the moves on this light volume action. Up, consolidate, rinse, repeat. I'm mostly trading breakout patterns and high fliers from the most actives list on days like this, but it's not for the feint of heart. Anyway.. quick look at a simple chart on SPY right here. VWAP is in hot pink. Until I see a breakdown from that pivot support, I remain neutral. Good trading today!

blog comments OCCASIONALLY powered by Disqus