ETF Trading with Larry Connors: The G7, The Jobs Speech and Waiting for the Edges
Last night’s speech by President was a non-event as expected and the market now shifts its focus to the upcoming G7 meeting. In the meantime, the traditional bear market behavior continues as many stocks and ETFs are below the 200-day, there are very few long set-ups, and the brief rallies are immediately met by selling as occurred yesterday.
The overall market today is as close to neutral as possible and when this occurs it means there are few, if any edges. Many traders get themselves in trouble on days like today, looking to manufacture trades when they really shouldn’t. The best know to stand aside, remain disciplined and wait for the edges to appear (as they always eventually do). We’ll do the same today.
The above is from Larry Connors’ Daily Battle Plan.
To learn more about the Daily Battle Plan – including access to Larry’s daily ETF trading signals, click here for more information.
And for more on ETF trading, be sure to visit us here to check out the book that Stocks, Futures and Options (SFO) Magazine called one of the best trading books of 2009: High Probability ETF Trading: 7 Professional Strategies to Improve Your ETF Trading.
Larry Connors is founder and CEO of TradingMarkets.com.