Thursday, November 15, 2007

Day-Trading Tip - 11/15-07

Once again, what does the first hour of trading tell us about what kind of price behavior we should expect for the rest of the day?

Much like yesterday it would seem.

With the gap for all intensive purposes being filled in the first hour, the market has very high odds of being a non-trending day and this we should look to sell the rallies and buy the weakness.

As with yesterday, we also need to be aware of a break in either direction of the days range.

To be perfectly honest with you, it has been one of those days so far that I have done nothing but fade the gap this morning. There is simply a whole lot of noise with no real high probability set-ups and when in doubt, stay out.

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