Dr. Brett has quantified something that I have felt lately: the market has been gapping up and down on the open and the daily changes throughout the trading day have been muted. This makes trading positions intra-day very difficult if not impossible.
I would add that most of the daily change has been in the first 1/2 hour which leaves the rest of the day to listen to the crickets.
Because of this, I have pretty much refrained from day-trading and almost exclusively doing swing trades now.
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shhh... I think brett is kind of an idiot, a guy playing randomness against risk management..
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