No trades taken yesterday due to other commitments. I was around in the morning and could have traded a perfect short on Visa but was unable to pull the trigger. I’ve noticed that happening more and more as of late which reminds me of my trading fears about 3 months ago after the markets crashed about 20%. But today’s another day and my account continues to grow from deposits. Need to work on fear… must reread Trading in the Zone…
Crude is now over $125 this morning. Be very careful. As oil goes higher, there’s very little chance the markets can follow. AIG also missed earnings last night which has helped put a damper on the markets this morning. Futures are down about 90 points with fair value around positive 40, for a net difference at the open of about -130. I don’t forsee this being a pretty day.