'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Saturday, June 2, 2012

Friday's Market Action

The market gap down hard in the open due to negative jobless report.

Not a good sign on the first day of the month of June.

To trade the Friday's market is to short in the open and cover in (or before) the close.

Trading the market last Friday needs to analyze on a multiple time frame.

If you are trading on a shorter time frame (1-min.), you will possibly get chopped.