as a complete lightweight drinker these days, a couple last...

as a complete lightweight drinker these days, a couple last night killed any hopes i may have had of trading last night.

this morning, i catching up on reading and came across yesterday's star of the xjo thread - brisvegas.

nice post - and how true.

the market has been range bound since mid may. those who claim to be neither bulls nor bear have probably done well over the last month or so.

making predictions is a fun past time, but trading the moment is what makes money, particularly in this current "going nowhere fast" environment.

those that have read my recent posts obviously have gathered that my bias is currently bearish ....that is because the market has not proved otherwise.

until it does, my bias remains the same and will not be a buyer of anything longer than those shorter timeframes that i'm trading at the moment.

if we are in a downtrend - the spx has probably already done all that is necessary to correct monday's huge fall.

from the june 11 high to tuesday's pre-opening low, the market has now corrected 50% of the down move.

the overnight session wasn't overly impressive and my whilst my views haven't changed, there's not a lot of point taking big bets here until we break out of this range......and until we do, i plan to continue on focusing on the moment