The Daily Dose of Trading Comments

Although the markets have traded back to red, given the steep move in crude, the reaction hasn't been as bad as it should be and that suggests that the oversold nature of the market is coming into play. The result is that I can't really make a short or long trade at these levels from a swing point of view. Can't make the short trade yet as the oversold aspect limits the profit potential such that the risk/reward isn't favorable. Can't make the long trade because I don't really know that we will get much of a lift. So, I sit here mostly in cash. I rather be making a trade but I just don't see a good reasoning for one. If the market offers a fat ball I'll take another swing, but right now I just don't see it. Afternoon trades are typically less rewarding for me as they tend to be trend followers not faders and I tend to like to fade.