i'm not into day trading or the xjo, but the movement of the xjo influences the stocks that I have short and long.......
its been oscilating between 4900 and 5200 over the last 6 months, but moving down a little more with each down....
my thoughts would be if you are shorting the xjo to use these oscilations to your advantage assuming they will continue on for a bit more, taking a short position on the highs (roughly now) and selling on the lows and not be quite so jumpy at minor daily movements ie "short term trading", not "day trading" .....
a trading band over the last 6 months should give an indication of the boundaries of the oscilations .....
