I was flying home from Florida this weekend and we started hitting some serious turbulence on the descent. \u00a0 A woman in front of me popped open the window shade and was startled by the lack of visibility. \u00a0“How can we land in this? \u00a0You can’t see a thing!” she\u00a0shrieked\u00a0to her significant other (who looked too much like “The\u00a0Situation” from “Jersey Shore”). \u00a0Trading ARQL today I was like that Continental Pilot navigating us safely to Newark (nice job btw Captain!).<\/p>\n
It is not like the pilot sticks his head out the window to help him land. \u00a0He is flying based on his instruments. \u00a0If it was perfectly clear he would still rely on his flight indicators. \u00a0 Until the very last part of the landing it doesn’t matter to the pilot whether the sky is clear or the plane is covered in clouds. \u00a0That lady could not see out the window but our pilot knew exactly where we were.<\/p>\n
Today trading ARQL with all the HFTs I could not tell by looking at the tape whether it would trade higher or lower on the Open. \u00a0But I did know that ARQL gapped up, cleared 6 and had climbed above 6.16. \u00a0I \u00a0did know based on my charts that this was an excellent risk\/reward play for an ARQL pass at higher altitude. \u00a0And at 6.40 by 6.60 I knew the same even though the tape provided little\u00a0visibility. \u00a0And at 6.80 by 7 I knew the same.<\/p>\n
For certain trading plays based on our intraday fundamentals and chart patterns we buy based upon price. \u00a0The tape provides us little visibility but we can still spot intraday patters that will bring us to our desired destination.<\/p>\n
Hoping tomorrow brings you more excellent trading opportunities.<\/p>\n","protected":false},"excerpt":{"rendered":"