Holiday Trading
Yes, it’s once again holiday trading at its best (or
worst), as the Qs have yet again given back early gains which
reflected a run-up on extremely thin liquidity fueled in part by
better-than-expected consumer confidence data. At the risk of sounding like a
broken record, I expect better liquidity, pace and trading opportunities to
return after the first of the year and encourage traders to preserve their
capital for better times ahead. Three- and one-minute trends have held nicely
today for those scalping the smaller intervals, yet liquidity mandates exiting
before supply quickly vanishes.
Friday December 28, 2001Â
12:30 PM EDT
(1)
Approx. Equivalent QQQ Price
Now is an excellent
time to look back at your 2001 trading performance to determine whether any
fine-tuning adjustments are necessary as we prepare to enter a new year. Keep in
mind that the future is the only
relevant time frame in trading, regardless of past market or personal
performance, as it is the future and future alone that provides the potential
for incremental earnings.
Good trading and have a
great weekend!
P.S. Continued thanks for
your interest and response to the QQQ
video which is reflected in its rise to #1 on the TradingMarkets’ Best
Seller List. The response has continued to overwhelm a bit at this end, and I
expect to be caught up on e-mails by the weekend.