Monday, November 2, 2009

trading on the road

Even I'm on the road, I just couldn't resist trading this pattern. Got back from an interview at 12:45pm ET. Turn on my laptop - the early morning news met initial rush of buyers, then market was sold off. I know I want to be short. Opportunity came at around 1:30pm ET. Did exactly what's expected. Made a double bottom, and I covered at the lows. I have no idea it's the bottom - the daily chart tells me selling is overly done. Daily and hourly both are touching lower end of volatility bands.



The market currently hangs around 38% level after a double bottom. Too uncertain for any types of trades now for the rest of the day.