Speed is Whispering

The velocity of order flow on this up day is punk in comparison to the heavy hits sustained on the way down.  In the battle of 2-way chop sellers are the stronger force.

The tape was frantic yesterday, at times erratic.  The DOM looked like Barry Sanders, making big jukes, noise, to the tune of 4.5-5 points in seconds.  It was not for the faint of heart.

Today, the faint hearted could participate.  We are going upward, slowly.

There’s a big negative for the world to digest.  You have to separate it away from your decision making process.  You can have compassion, you can even be angry, but if these emotions are painting the lenses you use to view your trading then it might be a good time to stand aside.

Part of this quiet move could be attributed to Friday morning’s NFP news which is now lingering right on the horizon.  It is close enough to put a stop-pause on the action.  Keep this in mind, as it is the second most influential economic release currently.

Then we have oil.  I have spent hours building a chart to view this market objectively and am still not happy with the results.  We need an objective read on the short term price action over here, and I intend to produce it.

We may see slow trade again tomorrow, especially an hour or two into the session.  Just be aware that cash is a position too, at least until some of this short-term uncertainly clears up.  The rub?  You might miss a big, mean-revision type thrust higher.

I am off to tear my muscles off the bones for no less than three hours.  There is no better decompression than strenuous exercise followed by a sauna meditation.  Well perhaps sex, sex too.

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