Not Much Happening
Not much happening (ok,
virtually nothing) this morning as we’re chopping around the upper end of
Friday’s range. Volume is extremely light and the pace choppy as we await the
market’s next move. Island spreads on the Qs have been as high as $0.06 at
times, reflecting a very inactive market thus far. Much of the morning focus has
been simply watching to see if we hold Friday’s lows and continue the
mini-reversal which began late Friday morning on the strengthening 13-minute
stochastics as discussed in Friday’s column.
Monday
August 13, 2001 12:10 AM EDT
I’m keeping an eye
on the 13-minute stochastics, which are becoming oversold as we consolidate,
keeping in mind that oversold can become more oversold. The three-minute chart
should once again lead the way in confirming any reversal or not.
For those pressing to trade intraday today, remember that there approximately
250 trading days in a year, 20 in a month, and five in a week. The
preceding was a public service announcement.
Good Trading.