Day Trading 6/29/09
Hi everyone. I hope you all had a great weekend.
Manic Monday wasn’t so manic today. We had a nice uptrend in the morning that we took advantage of. After that we were on defence and preserved our profits. The market looked weak late in the day and tried to go short a couple times but couldn’t find momentum. I think this is basically because the quarter is coming to a close. Mutual fund managers that missed the ride up from 666 on the SPX want to show their clients that their portfolio contains the “hot” stocks. We explain this “window dressing” effect in more detail on the Nightly Swing Trading Video for subscribers.
As always there is good news. The new quarter & earnings season is coming and there will be plenty of opportunity. Our plan for this short week is to take it easy and pick our spots wisely. Our traders are still able to make an average of 1-2% profit per day just trading the morning session with our calls.
Dedicated to Maximizing Your Profits,
Shoguntrading.com
