There’s Always A Time And A Place
Luckily this week is drawing to a close,
and with it the winds of volatility of fall will hopefully be fast approaching.
Trading has not been bad this week, just quiet. Intraday swing trades have
played out, but HVT has been really hit and
miss. Do not get all worked up about it, there is always a time and a place for
each trader’s style. For me, this is a great opportunity to kick back and focus
on non-market items and gear up for the post-Labor Day trading. If you feel the
same way, consider walking away next week. I am. My golf game and family time
will be my priority next week.
So on that note, make the most of today’s morning session, but do not expect
much in the afternoon, barring some unforeseen event. Citigroup
(
C |
Quote |
Chart |
News |
PowerRating) is indicated down on the opening due to another investigation by NY
Attorney General Elliot Spitzer. Tony Saliba’s vision of some bad news seems to
be playing out. That coupled with the JPM
downgrade yesterday should continue to make these stocks good intraday traders.
Key Technical
Numbers (futures):
S&Ps |
Nasdaq |
| *973.50* | 1069.50 |
| 969.33 | 1065.67 |
| 963 | 1063.83 |
| 957.66 | 1053.75 |
| *952.70* | 1052.25 |
| 950 | 1043.66 |
| 1038 |
SOX levels:
**367**
359
350
344
* Indicates that that level is significant.
As always, feel free to send me your comments and questions. Enjoy your Labor
Day weekend. My column will return on Tuesday, Sept. 3.