'Freakshow' Market Favors Only the Quick

It was another dreary day for the market, as the debate over a potential bailout plan continues. Everyone seems to be quite certain that a bill of some sort will be passed, but its details and whether it will really help is not certain at all.

This is one of the most difficult markets I have ever tried to trade. Most of the experienced traders I know are frozen and doing nothing because the action is so random. I've heard this called a "freakshow" market because things are so far from normal. No one seems willing to trust a trade to work for more than a few hours, and that just adds to the randomness.

As both Alan Farley and Dan Fitzpatrick have said, we just have to wait it out. Just don't lose money now, and sooner or later, we'll get some better trading. I'd almost prefer a big one-day crash to speed things up, but I don't think it is going to happen that way. We are going to slowly and painfully work through this.

Most importantly, don't let this get you down. Protect your capital and stay patient. Better days will come.

Have a good evening. I'll see you tomorrow.