A Very Volatile Session Ends With Insanity And Confusion Winning Over Calm And Reason

October 30, 2008

There will be no video as my associate is not available. However, if you are a Gold or Platinum subscriber I will make a very long video for you to watch in the AM. So chances are high that there will not be a free YouTube video for Silver and Free members. Gold and Platinum you will get a long video to enjoy in the AM. Days like today are the reason I don’t GAMBLE my money in the market intraday. I don’t know what it is but since decimalization and the loss of the uptick rule the market sure does get nuts sometimes. I also wonder if no more curbs are causing problems. I just don’t know but I don’t have to know. I just need my charts to setup and work. When they don’t set up, they don’t work and my cash stays idle. Those that think you need to trade at full margin 100% of the time have probably paid the price and then some this year. And if not this year, I am sure very few of you maneuvered today’s market session correctly. I would love to have seen the old daytraders that I worked with in 98-00 handle a market that moves like this one. I am sure they wouldn’t be doing very well. Seriously folks, CASH IS KING!!!! If you didn’t think that was the right move before today, you should now!

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