One trader's personal insights and thoughts about trading the markets through market structure, logic and intuition.
Wednesday, December 22, 2010
Tuesday morning update
It's a real chop fest out there today and odds are we are probably going to stay that way. Ticks are now trending sideways and so are other intenals. Great market if you've sold some premium, otherwise you are better off playing online poker or something if you want some action. It's times like this where you have to stay disciplined and not force a trade. Seasonals and other stats still favour end of year strength but the market is now quite overbought. Perhaps it's the POMO effect kicking in??
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Oh C'mon - what is POMO please? I have to be the turkey to ask, it hurts...
ReplyDeleteHaha no worries David. It's all explained here in Rob Hanna's blog.
ReplyDeletehttp://quantifiableedges.blogspot.com/2010/11/1-month-pomo-inflows-set-to-hit-record.html