I'm pretty careful about counter trending the market. I've gotten burned and broke even or lost money doing that. Today gave me a couple of good opportunities so I jumped in and jumped out because those trades are always fast ones. They are pattern setups and I just take a quick bite out of the trend :) 50% or a little more of it. I don't try to get rich on them LOL.
I do like to use VIX even though occassionally it fools me intraday. Most of the times it is spot on so I rarely trade against it's trend intraday. Right now, the 15 minute chart is down and the 60 minute also looks down to me but still in an updraft supporting the shorts. Since I prefer to short the market right now because all the longer term charts are falling, I'll wait until its 15 minute chart turns up again.
Fridays are usually pretty low on volatility unless option expiration does something exciting. I'm not holding my breath. Hopefully, the market will make a jump in the morning so I can short again. Otherwise, I may not trade that much and start my weekend early. My puppy would like that LOL.
Cyn ~
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