Friday, February 19, 2010

No post last night

I had a lot going on last night and didn't get to post, but basically we have been in a holding pattern because there's no confirmation on the short side and not close to enough evidence or market strength to go out on the long limb. The Fed's announcement caught many if not everyone off guard, except a select few I think got wind of it around 2:15 pm-look at the Q's or any market average at that time and watch the behavior. In any case, this will likely be a day were you might want to take a look t the shorts on the list, tonight I will see were the high probability low trades ended up and post them, but others mentioned recently can probably be initiated.  I might wait until a morning trading range forms and breaks to the downside or the 2:15 level from yesterday is taken out or the open from yesterday is taken out. Just some sort of confirmation and maybe a little later in the am after the retail trades are out of the cards.