[Update: Looks like OONR7 over at Esto's wasn't scared by the jumpiness of LH.]

[Update2: Prospectus over at MoveTheMarkets noticed the same erratic behavior.]

It doesn’t look like I’ll make any trades today. It looks like it would have been a good day for a gap fade, but that would take serious guts at this point. We gapped lower again today and the rest of the day was a decent uptrend.

This didn’t make it easy for my style of trading. Again, I found over 400 charts on my short to scan through like the other day. I whittled that list down to 20 or so. My long scan only produced 6 charts, none of which made my trading list for the day. When the market trended up so well today all my potential shorts just fell apart.

The only setup I almost took was in LH. It was a pretty good setup I thought, but I thought the price action was crazy around 11:30 or so. The trades were jumping all over the place – sometimes over a half percent in either direction. It was weird because the spread was really tight the entire time. It didn’t look anything like what I would call “orderly” so I decided against trading it. It would’ve worked out well, though.

After I stared at Level 2 for several ticks it looked to me like there were old trades sneaking in the trade list somehow. Did anyone else see that craziness? Here’s the chart as of 2:30 or so:

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1. No Trades Today – The True Cost of a BLT Sandwich
2. Back from Vacation, Trades in CMC, WNG
3. Class Action Lawsuit for Dummy Trades?
4. Messing Up Good Trades – Move-My-Stop-Too-Soon-itis
5. No Trades Today, Unfortunately – Here’s Why