Subscribe Feed (RSS)Funky market swings
October 1st, 2008 by eyal | Filed under Day Trading. |
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Quite a funky market these past two weeks. Today’s late morning reversal is a case in point. I think traders looking at the macro picture who are quick and nimble with their targets can probably do quite well as there’s good volatility. For me it’s not as conducive as the first 3 weeks of September. Still closed last month nicely but it feels like I’m going to have to wait for the bailout voting thing to get off the radar before the stocks I usually go after return to behave on their own fundamentals instead of getting swung around by overall market sentiment.
Yesterday stocks were totally getting whipped around by the news and CNBC rumors. Today seemed better though, there didn’t seem to be as much earth shattering news and the market had a definite downward tone. I’ve learned that significant days are often followed by insignificant and vice versa. Or chop follows trend…
Rick - yes it appears so, especially with these crazy market swings.