Monday, November 3, 2008

Monday Notes - Little Interest

3:10pm Simple post today. Little volume + little pace = little interest at this end. Volume has been incredibly light on this pre-election day Monday, and my primary goal today was to simply keep moving, albeit lightly. To that end, I've begun digging my way to the 11/30 surface with a baby step +3.5K chip gain, and am closing it down for the day.

As I said at the end of October, I'm not expecting the windfalls and volatility of the last few months, and it will undoubtedly take some time to adjust to the new rhythms and adjust my sizes and trade frequency accordingly. Fortunately, results of the last few months have bought me time (remember, that's the only thing trading profits/losses do ... allow us to gain or lose time) to either get used to the new rhythm or sit out if I simply choose to keep things light for a while. Such is the benefit of maximizing opportunity when volatility presented itself, which certainly makes it easier to sit out non-moving markets.

I imagine there may be some who appreciate the lull in volatility, and who may actually be able to trade these markets easier than the Sept/Oct monsters. For them, it may be their turn to shine now. At this end, I'll sit back a bit until we get at least some improvement in volume and pace before getting too interested in getting back into high gear.

As I mentioned last week, my main goals for these final two months are incremental gains balanced with chip protection. To that end, I'm satisfied with today's very modest "first hand" of the final table as I get a feel for the new game.

1 comment:

Chuck said...

11:50 AM....Yes, I am one who's glad to see the slow market. My vote today goes to whoever will bring back the smaller 150-250 point daily ranges in the YM. Congrats Don on the weekend winnings, though I admit I have no idea what a "flop" is. When poker comes on the TV channel I switch to football ;-)