Well, stating the obvious here really... Volatility. Make her your friend, or she will become your enemy. As a futures trader, I must say at da moment, it is hard to anticipate a 160 point drop, and then a 160 point rise within an hour, particularly when the indicators suggest the opposite, plus, last Saturday morning, as I'm about to close out positions, sit in amazement at a 15 minute, 109 point rally into the close for no apparent reason, and my crystal ball had just ran out of batteries too
. As the tug of war continues, big swings and larger than usual overnight ranges will be the norm for a while. We have had 200 plus point overnight ranges, when the usual is in the 33 to 53 point range. Last night we saw a 173 point high to low range on SPI Futures, but are currently only down 22 points as I type, where the DOW is up 3.41 pct, so SPI is lagging at da moment, but of course, that will change come the day's open, and could have something to do with an anticipated rate cut, although Canada (more like us due to resources) is up less at 1.16 pct. As George Soros said during the GFC..
"I think you have to be either very, very cautious or you have to be very, very nimble." - still appropriate for the market at the moment. Cheers and good luck.
Last Friday nights large swings and the close of SPI Futures and some CFD's on Saturday morning for illustrative purposes, if you're interested.
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