Exposing Ideas to the Envelope of Serendipity

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Friday, November 20, 2009

Charting a Course in Rough Seas

Bulls and bears alike have been getting tossed around in an increasingly volatile market lately, and preserving trading capital in this environment is paramount. It's an OPEX week, which heightens volatility as a rule, but there has also been a battle going on near significant long-term resistance on the major indices. The dollar continues to be the guiding force and has shown a little strength in recent sessions, causing those short the currency some angst. We'll see if there's anything to the move this time around or whether it's yet another technical bounce that will be swiftly sold at resistance. Meanwhile, futures traded down to support in pre-market trading where a short-term bounce could get underway. OPEX Friday's typically turn out to be non-events, ending the session not far from where they began it-- not that there has been anything "typical" about this market.

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