Too quiet today

what is going on. Every time we hit a new high on the S&P a sell program is triggered.

Jeff any thoughts on that action?

Also I wanted to post something for the new traders that I learned the hard way, sometime ago.

If a trade is going against you and it gap's open in the morning like ESS wait 30 minutes to an hour if you are going to get out or make a move. Usually the stock will come back somewhere to its mean and then make a move as the short cover is over.

If you are long on the stock you can take advantage of that for a short term play just look at AMG, it run up to 132 and then backed down, I tried to get out of my long position and could not get filled, now I am waiting and hoping that the new high will hit again for some direction.

Moral to the story, dont panic on the opening price as sometimes it is pushed by panic.

Take a look at PAY right before earnings and it is flagging to support.

look at the volume of calls

Am I the only one here? hello

David,
Congratulations, it looks like you've got this thread all to yourself... very quiet on the blog today.

I'm having one of those days (I'm in one of THOSE moods, as Catherine would say,) as nothing is forcing me to sell but I'm down quite a bit. Puts are up, calls are down. Overall virtually all my trades are in the black... it's just that today everything is pulling back. It's been like that the last few days and it's getting annoying.

I'm seriously thinking about getting emotional.

David, there is not much to post today. The market is slow but there is some data this week that should get it moving.

GDP, Chicago Purch Mgrs, and then Fridays Employment report. They'll be some trades this week.

Jamie

Don't get emotional, but do something about it, find new trades and don't make irrational decisions. This is not an easy endeavor, but once you can overcome emotion, you will be a great trader. Forget about it and move on there is a ton of other trades. Just give our positions time and don't look at the plus or minus column just look at the chart!!

I'm with you Chris. I'm glad I'm not the only one in this situation. Nothing is signaling an exit, but nearly everything is pulling back in the wrong direction.

A lot of anticipation in the market. I think we are at the top of some key diagonal channels in the markets and we need to see something to push us over it, or drop down to releive some pressure.