The best trades happen when market participants get over excited in one direction or another. It has happened numerous times in the past few weeks that it appeared investors were about to get over excited but have not. This morning was one of those occasions.
We were looking at a big gap up this morning and I was getting ready to make some sales. As we reached closer to the open the gains fizzled and we have sold off since and I have not made a trade. This lack of emotion is the opposite of what we saw for the past few months and makes short term timing a bit trickier for me.