The Daily Dose of Trading Comments

With the day as volatile as it is, I've tuned off swing trades and am concentrating on short term intraday trades. I took a whooping on the oils and the metals, the only two sector trades I was attempting to work. When I look back at my data for the year, the intraday futures trading is yielding much better results than the swing trades. I guess if you think about it, the chop in this market has been reasonably significant this year and unless you have good sector picking and timing skills, you have been chopped by the chop.

Intraday we are testing the lows of yesterday but to do that, we are already down pretty big on the day. Unless you get a waterfall type sell off into the end of day, it's hard to see these levels fall today. Waterfall events don't come often but they do show up on occasion. For now, it's tread carefully and watch your step in either direction.