No trade again today. We moved to the overhead pivot level as expected off the open but just bounced off on the first test. No setup for us other than a tick scalp on the exhaustion shift. From there we got the expected flush from the bad homes number but of course everyone was anticipating it so it was a suckers bet for position traders. Surprisingly we didn’t even get an earnest test of the OL and though there was some big trader activity on the 4.50 low we passed on it as we like to stay to the outside of ranges for fades. I really wanted to see the 3’s tested to get interested there. Oh well. So much for caution huh? Both the high and low fade were big winners today and we were sidelined. But that, boys and girls, is what discipline is all about ad why we have stayed in the game for so long. I never feel like I’m missing out if something wins that I didn’t take because I know the reality is that betting anything but the highest probability moves is usually a loser in the long run. Thankfully we are up pretty big from the first part of the month so these no trade days aren’t quite so bothersome.