Another wild intra-day ride on our market today. Up on the open, a sell off shortly thereafter till late morning, a rally into mid-afternoon followed by another sell off and a rally in the last hour to end the day. This all occurred in fairly tight range on average volume. The XJO closed 31.6 points higher to post a 0.8% gain. Utilities was the only sector to close in the red, all others posting a positive result. Both the ASX and US markets continue to test the resolve of the swing trader. Both are range bound and follow through on swing trades or breakouts is the exception rather than the rule. A decent breakout one day is completely reversed the next. The US market in particular is still having wild swings intra-day and volatility is still high on both. Trade small and selectively or remain patiently on the sidelines or else your account will be churned.

Similar stock trading tips:

1. Wednesday 7th September, 2011
2. Wednesday 14th September, 2011
3. Tuesday 21st June, 2011
4. Thursday 21st July, 2011