20150521
Short 2 TF 1257.7, 1258.1, +1.3, +0.7
Long 2 NQ 4498.75, 4499.0, +2.0, +5.0
Long 1 TF 1253.7, +1.5
Total NQ +7.0
Total TF +3.5
The news can inject a shot of adrenaline into the action of the market, and without a pending economic number release, there often seems less commitment to the little trend wars that appear as swings in the 1st Frame of the day. The trick is to play what's on your screen regardless of how the news is interpreted. Make use of the volatility, but don't give the underlying fundamentals even a cursory thought. The truth is, the fundamentals are not underlying. Market structure is underlying, and plays out its destiny regardless of the news. ...or as my mentor, the cotton trader Randolf Newman use to say... "The news is is meant to confuse. Follow the news and you will lose."
