Nowhere to go

I feel like I'm all dressed up with nowhere to go because I'm enjoying trading at the moment but the market is skittish and flukey with light volumes exaggerating moves so I think it would be wise to pack up until the new year. The market is certainly not dressed up with a surprise 2.2% fall after very flat overnight leads. The trend is down but the moves are wild, I assume that there's an element of capitulation after Santa failed to appear.

I'm closing out my longs and shorts and there's not a lot of point posting charts because I've blotted my copybook with some slack exits. I've bought back the shorts too early and I'm still trying to ease out of longs in a market which has just gone one way. The numbers are small but it's annoying to let those hard won disciplines slip, even if just for a short time. Still, it's a special situation, the market is too thin to trade and the very nature of that means that easing out of positions is tricky.

4.10 The big news was the death of Kim Jong Il who actually passed away on Saturday, it seems. Asian markets were jittery but I do wonder whether the information was known because the weakness today lacked an obvious catalyst and yet was there from the open. It doesn't necessarily need a catalyst, dumping longs before Christmas is probably enough. Anyway, I'm out of everything and probably won't post again until the new year. The Asx 200 finished lower by well over 2% with a drop of 99 points to 4060.

I've actually enjoyed the challenge of trading these jumpy markets lately but the last couple of days have been too silly, even for me.