For whatever reason, I powered down, came back up, and SI is running at normal speed.
I'm still ticked off I missed some early trading opportunities because of the distraction.
So for a target intraday downside, I would think if the market can get some motion to the south I would look for 1104 intraday. It's not being co-operative, of course, just yet.
I can't tell you how annoyed I am, between the error at the trading firm, the lost e-mail, and the problem with SI I'm left here still short 6 and all the action so far was in the first 45 minutes....here I am with nothing to show for it.
Upside potential, in my view, is limited unless we get through 1117.20, a 5 point move for the SP8M from yesterday's close and possibly an "all is well" flag for the dipsticks. Personally, I probably would go flat at that point (if it occurs) and trail a sell stop.
My concern is of course, motivated by an existing portfolio. However, my honest opinion is that even for a daytrader such as myself....if the bonds and the Bank index are not supporting the footing in the market my play has to be defensive....which for me becomes a position play. So, until something changes, I'm afraid I will not be joining you trying to scalp the long side in the near-term. |
