Friday the 13th

by Larry Levin

The trading floor had an eerie silence to it last Friday. The lights were dimly lit and it seemed like there was a fog rolling across the trading floor. Then again, maybe my glasses were dirty. At any rate, it was an odd start to Friday's trade; rather than the bell being rung at 8:30am central, I heard "Ki-ki-ki, ma-ma-ma...Ki-ki-ki, ma-ma-ma."

"Am I in Chicago?" I thought. "Or am I at Camp Crystal Lake?" the setting for the 1980 movie "Friday the 13th."

Although there wasn't a mad killer, Mrs. Voorhees, taking out traders like camp counselors in the original movie (then son Jason in the sequels), someone sure slashed the volume and volatility all to hell last Friday...the 13th. Indeed, the market was as lifeless as said counselors in the movie.

Friday's range was so small it barely spanned 9-points. The vast majority of the range, perhaps 90%, occurred within a minuscule range of just 6 crummy points. Moreover, it was so slow - dare I say DEAD? - that Friday's value area was "inside" Thursday's value area.

When the market is as slow as that one can only apply pressure to any flesh wounds in one's trading account and wait for the next day. Since there is always another day, we're thinking that Monday or Tuesday will be the day when the S&P500 takes flight from its current frightful condition - like the last camp counselor, Alice, who gets away.




Previous Day's Trading Room Results:

Trade Date: 8/13/10

E-Mini S&P Trades*
(before fees and commissions):


1) No "Secrets" trades filled today.

2) Algorithm positions (6)

3) “Reading the Tape” positions (2)…combined Secret’s, Algo, & “Reading the Tape” total… -2.00



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