Mid-day I am up a pleasant 2%, only thanks to the fact I entered the day 130% leveraged into commodity stocks. I caught a quick trade in BTU and have been sitting in a 90% cash position all day. While there is of course opportunity at ever bend, I am noticing that prices are more or less FIXED and the beta for swing stocks has slowed to a molasses drip. If you entered the session -2%, you are probably still down around that same level.
I commiserate with you over your plight; but understand the summer doldrums is coming and with it JUNIOR at the trading turret will be ordered to not fuck it up and to not rock the boat. Gains have been plentiful and junior cannot ruin the summering for our beloved PMs.
Into the final hours of trade, I will likely do nothing. Into the final 30 mins, I will likely do much — trying to only capture opening rips or dips for tomorrow. I suspect the intra-day trading we enjoyed so much has ceased to exist…for now.If you enjoy the content at iBankCoin, please follow us on Twitter