The Daily Dose of Trading Comments

As the market settles in for the last couple hours of trading, crude oil is heading up again and that doesn't really bode that well for the general market as it's paying attention to the price at the pump again. Todays general lack of direction and meaningless action is just that, pretty meaningless. The afternoon selling has been pretty much a staple of late but that usually comes about because they have been selling the early strength. There isn't much early strength today so who knows how they end them. All I know is that I'm not willing to do much unless we get a spike higher in which case I'll fade them.

I've been flipping through a number of charts today and have staked out a reasonably sized position in a set of shorts on oil plays. I also worked through all my candidates of short possibilities outside of the energy plays and added some of them as well. AZO, AMFI, CCBI are some names that I find interesting. I also continue to add and remove existing positions as I scale in and out of positions depending on how they are trading. All in all, a lot of work for a little gain so far. The two larger plays on my books are the metals long and the oils short. Both seem to be at their apex and ready to turn. Like always in the market, I'm sure I'll get the dunce cap or the feather for my cap soon.