Trade for Thursday, Market Action

August 9th, 2007

In just 15 hours of trading since the fed announcement on Tuesday, we’ve seen some serious movement in the markets.  What a day today with the Qs covering a range of almost 3% of it’s price.  Today was a great day to sit on the sidelines (or go to an appointment).  Here’s a 15 minute chart of the Qs since Tuesday:

QQQQ.20070809

I should have sat completely on the sidelines, but I instead took an ill-advised trade in HEES where I was almost immediately stopped out.  It was also during the time of day where I know my system underperforms.

HEES.20070809

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