Friday, March 16, 2012

A Boring Day (OpEx)

It was option expiration day today, and that often means we get a boring, dull market day.
And that indeed was the case. We saw mostly sideways action in a narrow range. Indices barely traded outside of yesterday's range, except for small caps briefly at the open.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, metals, oil
Metals were moving along with indices, sideways that is.
But the euro and oil both had a good day. Especially oil with a move higher of 2%.

Sold some INSP @13.34, only holding a tiny part. All out of LNKD as it moved through my stop near the end of the day. Average price: 91.65 (in 87.50), a gain of 4.62% (including commissions).

Articles for tonight:
Dumb Money vs. Smart Money
Do you fail as a trader or just learn it is not your passion?

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