No trades for two weeks! Considering I used to trade 50 times a day, I'm quite proud of that, but my shoulder hurts from all the back patting.
The primary reason for inaction was the absence of technical entry requirements.
It's also been my view that we would not see a meaningful correction in risk until some "good" news , or at least a degree of certainty, came out of Europe. We seem to be drawing close to that point. Until now, the prospect of good news made shorting perilous, and fueled the squeeze higher.
I'm not convinced this process is over, but I believe the majority of weak shorts have been washed, and with the s&p and crude hitting my targets of 1260 and 94.50 respectively, it's time to roll up the sleeves and start looking for opportunities.
