All The Makings
Yesterday was
a day that offered intraday traders of all time frames a little
something. The early morning was a field day for “scalpers,” while the
afternoon session was more oriented towards trades off the 5-minute bars. And,
yes, the two trades mentioned in yesterday’s piece,
(
AOL |
Quote |
Chart |
News |
PowerRating) and
(
BBY |
Quote |
Chart |
News |
PowerRating) took
their cues off the 60-minute bars for some nominal gains. Additionally, there
was one nice reversal intraday in the Nasdaq which offered traders of that
product an excellent setup (see charts below).
Based on all the action, I am actually
a bit disappointed that yesterday was my last trading day for the year. But
vacation and family are equally important. Today has the makings to be another
good day if the economic numbers due out throw the market a curve ball.
Have a great remainder of the week,
don’t get wrapped up in hanging around too long after the morning session
tomorrow as most large players will be moving out for the holidays. With the
lack of participation and many specialists and market makers putting their
second stringers on the desk you can be sure that liquidity and
“smooth” price action will be noticeably absent.
Have a great weekend and Happy
Holidays.