Market Action Sloppy As SPY Remains Between 190 And 195 Range
Warren Bevan | Feb 05, 2016 02:06AM ET
“The mind is everything. What you think you become.” – Buddha
The action remains very sloppy which points to lower prices but I’m having a hard time getting into shorts that allow me to stay in them.
I’m keeping stops quite tight in this uncertain market and that is forcing me to take several small losses these days which is frustrating.
All in all, I warn often about keeping your mental and real capital intact and this week is taking a toll on my mental capital.
I’ve tried several trades but have been stopped out for small losses or small gains with really only my Alphabet Inc (O:GOOGL) short from 793 working well.
I’m not really losing any money but being wrong hurts the head.
SPDR S&P 500 (N:SPY) remains between the 190 and 195 range area so I’m not planning on doing much until this breaks one way or another.
I’ve got to stop trying to trade and just focus on the daily charts, which are not showing me much at the moment.
Enjoy your evening and deserved weekend to come.
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