The Volatility Is Maddening

We are only 90 minutes into the trading day and already the S&P 500 (SPY) has moved from a high of $88.31 to now a new low at $84.53.

Opportunities are made up easier than losses is my matra at this stage. For a mean reversion trader like myself, very short-term intraday trades have been tough. Volatility would have certainly stopped me out of several potential trades in the recent past.  So, for risk-management purposes I will continue to patiently wait on the sidelines until a high-probability trade set-up occurs. If a trade does indeed occur I will keep my stop-losses at the same levels.