Volatility Remains

This market remains unpredictable. A large gap open resulted in a fill and then drop of the major averages. The frustrating thing is what happened with GE just a day ago did not happen with XL capital, it bucked the whole market trend and I got out with my measily gain only to see it shoot up another 4 dollars during the day. Oh well.

I tried unsuccessfully to be the contrarian twice to the downward trend. I made money a 3rd time and got out with a quick gain but the averages rallied into the close like I was hoping. Oh well. I need to fully remove emotions out of the equation. I tried to during the day as I took a trade and just a set a limit sell order of my predicted target. The target got close but not quite there so I never got filled and took a loss on the position.

You have to act so fast in this market it's insane. The perfect put plays on POT and FSLR i was wanting to take were only at their resistance levels for the first mins then proceeded to plunge the whole day. Who would have thought with a 4% gap up on the open there would be zero significant rally attempts to take them down at their resistance levels again. All I can hope for is another rally.

I fear the market is in a middle ground area, we could go up just as easily as we could go down so I don't really want to take a directional trade beyond a day. I need to just be patient and let the setups come to me and take the ones that make the most sense.