Tuesday, August 3, 2010
Trading in the Middle of the Range
I am not taking any trades as of now. We filled the gap just before noon around 1122 on the ES, that was the opportunity to go short. At this point, unless you are still holding the short, there is really no reason to be trading. I will be waiting for the 1110-1112 area where I will look for longs. To take a position where we are currently trading at the volume weighted average (1118.25) would be like flipping a coin. I will however consider selling the upticks in anticipation of a further move down, but in reality, I really don't like this market action...
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