Morning folks. futures are bit flat. GDP numbers came more or less in expectations. the actual number doesn't really matter just the market reaction to it. So far it seems muted. So far the market has been pretty strong digesting, obama, the fed, a whole batch of mixed earnings. but its been a bit choppy. I myself am finding I'm making a crapton of money in the first hour of trading then just proceed to slowly give it all back the rest of the day.
The last 8 days i tend to give back 34-40% of my morning gains. Most just comes from overtrading and the chop. So that's something to keep in mind. Often less is more and we can expect more of the same today. Monday we do have a window dressing day…something to keep in mind but the latest batch of earnings has not been met with vigor most recently $f this morning. id be careful adding too big of swing positions just yet...the market is still setting up.
I'm about 50% cash end of day last week…but am usually fully invested during the day as I'm a crack addled daytrader that just cant help it. Keep an eye on oil…due for snapback soon $uco and maybe even $gld
