The volume was light on the Open.  GS didn’t have many real orders.  During our SMB AM Meeting we thought GS might find some real orders.  FCX didn’t.   ABX was pretty strong.  AET was very strong.  I traded AET on the Open.  But even with AET the volume was very light for a stock in play.  So what do we do on days like this?

1) Make sure you trade a Stock in Play
2) Reduce your tier size
3) Do not trade midday
4) Tighten your stops

There was unusual buying in AET at 22.42 when the market was very weak.  AET was much stronger than the market.  I started accumulating there.  There was a nice buy order at 22.42.  AET traded to 22.80 but failed there a few times.  I lightened up.   And then AET broke 22.42 so I go flat.  At 22.15 again there was unusual buying.   So I bought some back.  And AET traded strongly above 23.

During the midday find some stocks that will be in play into the Close.  There may be some positioning before the Fed tomorrow. But choose wisely.  It’s a little light out there.

Good luck with your trading.