Trading today is set to rip faces off. Limit the number of trades you make; over trading will hurt you. Seems to me this market is acting wildly with no direction. Whenever you see the market acting wildly, chances are the market will move lower. Lack of conviction from bulls, leads to confidence for the bears.
Personally, I will be trying my hardest to avoid trading today. I know this will be difficult, as I have buy and sell signals flashing left and right. In reality these signals are all ploys to strip me from my hard earned money. The faster you recognize these ploys the less money you will lose.
I will be trying to build my short position in AMZN on weakness. This is to ready myself for the inevitable bed shitting on Monday. The fact that AMZN bounced yesterday and has failed to carry that bounce into today is extremely bearish in my opinion. The trading day is still young and I realize AMZN could get its shit togeather to trade higher, but I believe that would be a losing bet.
UPDATE: I have been watching PC and it looks ready to breakout.
