Lots of volatility today and lack of conviction. We scalped the first push into the 5 handle in both accounts and then bought 5.50 on strong confidence news. Volatility was just too much to bear so we went out on the retracement to 4 with a 6 tick loss. Not much else to say. I suppose maybe we shouldn’t have bought within 5 minutes of the news. Maybe the timing was off but I have to say I wouldn’t trade that much differently if I saw it tomorrow. I would take more on that first trade though given the mixed sentiment in the cash internals and hold that 5 handle short into 3.50 as on the sheet if I had that trade again. I did sell 5 blind as I thought I would but I felt only a scalp was going to pay me off at the time. Oh well – we can’t win them all can we. As long as we keep close to that I’m happy. lol…

UPDATE: Redemption. Scalped 5.50/6.00 for ticks around the vol three more times, then bought 5.75 into 6.75 for the (almost) gap fill trade. Man is it jumpy today. Be careful guys. So the totals are now -1.25 for the open session then +1.75 for the gap break and three tick scalps for a net of  a half tick on the day less costs which is still negative but if this is as bad as gets we can stand it. Probably done for the day now as volume is REALLY light. Not even 700K traded in the first hour.