We figure to be well on our way to an “inside day” on the major index charts.
An inside day is when price trades usually well within the bounds of the prior day’s price range. When this occurs, it is usually best to not overtrade nor overanalyze the action. Put another way, this morning’s bounce is not overly-impressive compared to yesterday’s selling.
I am not expecting too much from today’s session. If we do see another rollover I may seek to put out some new shorts.
Keep an eye on JO over $32.
What are you trading out there?
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Stopped out of BIS for a small gain, flipped some IWM calls for a solid win. The speed required as of late getting in and out is nuts. Tight stops FTW