Another 2%+ move for our market today which has been the norm rather than the exception for the last three weeks or so. This indicates that volatility is still at very high levels and the market is yet to settle down to more normal daily ranges. It was, however a reasonable day as three intra-day rallies lead to some good gains, any dips were bought and the close was at the highs. Our market has held up well it has to be said since the August 9th low. It is still a way off testing it – the Nasdaq is as good as there, the Dow Jones and S&P 5000 not far off and the Dow Jones Transports has taken it out. Major European indices are also thereabouts. The XJO put on 2.2% to close 91.1 points higher and all sectors enjoyed the ride to end the day in the black. Still, its an aggressive trader’s market as risk is high, short setups rare and the trend is down so no reason to be looking at longs just yet.

Similar stock trading tips:

1. Tuesday 2nd August, 2011
2. Tuesday 9th August, 2011
3. Tuesday 16th August, 2011
4. Monday 23rd May, 2011
5. Thursday 23rd June, 2011