NEW YORK (TheStreet) -- As I mentioned in last Friday's column, the intraday turn in the DJIA
On Monday morning, all the indexes opened to the upside but quickly sold off by mid-morning. At one point the DJIA was off 88 points, and the Nasdaq
As has been a common market reaction on a daily basis, buyers came in and brought the DJIA all the way back to flat in the afternoon. By the close, the DJIA was down 26 points and the S&P was down 9. The Nasdaq was whacked to the tune of 50 points and the Russell 2000
Volatility has been the theme of my columns. And Monday was no different. This stock market in 2014 has been a traders market. A time frame of a week or more has quickly become known as a long-term strategy.
The algorithm-programmed machines and the hedge funders are in control of this market. They are trading this market between their programmed S&P daily trading ranges.
Traders need a risk-management process that works. They need to recognize when stocks are oversold and when they are overbought, then act accordingly. This is no market for buy and hold.