Mar 102010
 

Everything behaved as expected this morning. We actually had two trades but just posted the second one. As expected there was a ton of volatility around the overnight high so we didn’t even try to target back to the center of the overnight range. Just a quick two tick scalp at 42.25 out at 41.75.  We weren’t sure we were going to take that one but decided to at the last second. From there we bought strong order flow at 43.25 and hopped out at the retest of yesterday’s high at 44.50. What a crazy market. The smaller traders keep buying into new highs for some reason only to see strong resistance at the tops. It is a mystery why smaller position and swing traders seem to be so interested in the long side, but it sure is creating nice opportunities for us. If it sets up like yesterday we will likely sell the highs again for another 4 handles or so. BTW, we sold the highs yesterday back into the 40 handle.

 Posted by at 11:27 am

Sorry, the comment form is closed at this time.