The Daily Dose of Trading Comments

With a few minutes left to trade, it appears the gains are going to hold into the close. I've had a hard day today not being able to really make a difference in my intraday trades. Sometimes that happens. When I talked about the lows holding a rally developing and the fact that we would once again test the 1200 SPX level, I really didn't think about this kind of thrust. I was thinking that we would work our way back to that level over the coming week. As I write, they are within a stones throw of that level. Go figure. Volatility continues and there clearly is a desire to position for the proverbial year end rally.

Crazy as it is, it is what it is. You can't make every trade and you clearly will have set backs, but the key is to be successful. To me that means positive returns, small draw downs, and outperforming the indexes. It's not easy to do and it really is a job. I'm tired and this will be the last post of the day. I've had a long week. I'm remaining long going into the weekend. You have to wonder if this is just another one day wonder. Wish I could tell. I suspect not but these giant moves smell of short covering. There's a point where the short covering becomes real buying. I don't know if this is it or not but I've got to keep leaning to the long side until they break the trend back down. So far they haven't.