I use to average 100+ contracts per day. Now I'm trading 1/10 the number of contracts and holding my trades longer. Although I'm not putting up big numbers like I use to, it's been less stressful and there is less of a chance of me having another blow up by keeping my contract size down. YM was an absolute choppy mess this morning. I should have gone long ER2 instead of YM on my first trade. Normally YM outperforms ER2 intraday, but ER2 has been more bullish then YM lately, which suggests to me that there is either a strategy change by the hedge funds (more long bias on ER2 now, possibly going long small/mid cap growth stocks for a 4th quarter bull rally), or that the short covering in sectors like homebuilders and financials are causing ER2 to outperform YM; and that YM and ER2 will return to there normal trading patterns as soon as the shorts are done. CNBC really has nothing else to talk about today so they are hyping up tomorrows employment #'s out before the bell. The BoE left interest rates unchanged, and the only movement the financial markets saw was in the currencies.
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