The gap higher was intriguing to bulls who decided to buy the action after watching the opening print. From there on the intraday action was benign with drifts in both directions forming a consolidation that eventually produced the old, falsie fastie reversal which saw no follow through from the sellers into the bell. Even with a sell side imbalance and end of day reports of rockets hitting Libyan airports the Nasdaq held up.
I managed to contain my impulses today and only take planned trades. The action was very slow intraday however, and not much came from following momentum. It turns out one was better served fading moves today, a scalpers environment if you will. Anyhow here is my daily performance:
It was another day of watching on the stock portfolio. I am waiting for some price action to really grab me. The only transaction I made today was buying some calls in DDD. The stock gapped higher and early in the morning it was making a slightly higher low and I pounced. This is opex week, thus I have a moderate expectation for shenanigans, even if they are of the lull into complacency variety.
That weekly gap we printed this morning does not sit well with me. How we cope with it this week should be interesting, especially as the week progresses.
I need more mental stimulation, thus I am off to play a sport.
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KNIGHT!
agree, done being a swimming pool trick