“Your big opportunity may be right where you are now.” -Napoleon Hill
Big Ben’s Thursday Commentary Not All Gloom and Doom
Despite his statement this morning that business growth will likely slow in the months ahead, Federal Reserve Chairman Ben Bernanke also provided a glimmer of hope for the U.S. economy.
In case you missed it, Bernanke commented that the Fed believes that our economy should “rebound from current problems by the second half of 2008″.
This somewhat positive sentiment, coupled with Bernanke’s statement that he and his colleagues are putting together a proposal that will create a new set of regulations for those issuing mortgages and sub-prime loans to those with less than stellar credit histories, provides hope that a prolonged recession is not upon us.
http://biz.yahoo.com/ap/071108/bernanke_economy.html
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Despite the inertia that seeps into every traders brain when they have an active trading morning, keep in mind that your risk/reward ratio changes throughout the day… dramatically!
A weaker volume market is a more volatile market and a more volatile market is harder to trade when using any type of trading system (which you are… right?). Remember that the first hour after market open and the last hour before market close are the strongest and most trend following hours of the entire trading day. The hours in between should only be traded by savvy and impeccably disciplined traders who do not mind twiddling their thumbs in order to keep from getting trigger happy.
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