Range-bound Volatility

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.  Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“The price of discipline is always less than the pain of regret.” — Nido Qubein

Another volatile day that saw decent weakness turn into nice strength.

It remains a day-trading market only, with no trend to be seen yet.

Friday could be a fun day with some small trades depending on how the earnings in AMZN, V, BIIB and GOOGL hold overnight.

It has been a tough week for me having the flu and barely being able to get through the day, let alone really be on top of things with nighttime homework so I really didn’t do much this week and that is fine.

It happens and is much better than forcing trades.

There are always trades setting up so I hope to be 100% next week and take more advantage of this great volatility.

I had held some free GOOGL calls from last weeks move and it looks like they are a bust now on a miss for GOOGL but the stocks is up later now to the 530 level.

Ah well, it was house money and it’s why I usually won’t hold any, or much, over earnings.

The odd time I have a free position I may let it run as I did here with GOOGL but it didn’t work, yet.

Gold and silver rolled over well and are now looking to put in a higher low as I’ve talked about with members for over a week now.

Good stuff.

SPY January 30, 2015SPY Is trapped between a range here with 198.50 on the downside and 206.40 or so on the upside.

I’ll be trading off those levels until they stop working.

It seems all the leaders are beating numbers and flying higher except GOOGL, the one I had…

But let’s see how they all hold overnight but it could be a fun day-trading day.

Have a really nice evening.


Leave a Reply

Your email address will not be published.