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Chopped Up!!



June 05, 2012 – Comments (0) | RELATED TICKERS: SPY

In my market analysis video from last night I laid out a bullish case with us making new lows and then pushing higher throughout the day.  We pretty much saw that happen when the market went down almost 1%, reverse, and finish in the green.  

So I had my plan for the market.....check!

Yet when I came out swinging today I was coming up with nothing.  I was both long and short various positions and ended up with losses across the board.  The chop on the intraday level killed my trading today.  

I did take my own advice and kept my positions small and thus my risk small so the portfolio will continue to live another day.  Next time the market is choppy have to remember to take profits QUICKER!!!!

This market has not been easy to trade.  A lot of intraday chop and volatile swings make it difficult to all trades.  The traders doing the best right now are day traders and scalpers which can stay nimble and pick apart this market.

Here's my S&P chart markup

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