The Volatile NYSE Market… and yes the introduction

Volatility: I guess the best way to start of this blog would be to scratch your head over the current market volatility. The Feds cut rate by .50 last week which did little to calm the market and so far no big push has been seen (however it did help the market recover and the S&P futures to a more bearable 1340-1390 range). It seems investors are playing it cautious and we see every big jump followed by profit taking. 

Today the futures seemd to be in the 1340-1360s range with no major moves on the stock apart from the massive dirty plays going on these days. For Day traders who are used to seeing fake size and pushers will be amused at the new heights this is being taking towards. Case in point: One gentleman/lady (yes girls trade too!) decided to put up almost a million shares on city group (Ticker: C), push it for two levels and then pull it a few seconds later after getting short on the other end (to our bitter amazement). This is just one example of the kind of games being played for those who play very short ranges. Now my question is have the traders gone so desperate to make some $$$ that we are seeing so much fake size all the time or have the day traders realized that the big guys (yes that includes the specialist) are in too much trouble these days and letting them get away with it.

Desperate times call for desperate measures i suppose.

And yes the introduction…

   This Blog is all about the NYSE and Day Trading. It is also a quasi personal journal which will record my daily progress/adventures into the crazy world of NYSE. Incase you are wondering who the hell I am, well simply put I began trading in the winter of 2005 for a major day trading firm in Canada (sorry no names). I will do my best to reveal what I see everyday in the market and document both my major successes (when I have them) and failures (we all loose sometimes). Also I will be dealing the NYSE market with major emphasis on stocks i trade (which is usually large caps or fast moving stocks).  I hope this blog will be useful to you guys for both entertaining and trading purposes ( and a learning curve so my mistakes are not repeated).

So Lets get the ball rolling with a Jim Cramer favourite quote:

“Bulls and Bears Make money. Only Pigs get slaughtered…”       

-Danial Jameel (www.daytraderlog.com)