What's my stress?

So, finally, the stress test results are out. Surprised? Shocked? Stunned? No.

Do you feel it was a scam? The banks will fail? Or do you feel that we are out of the woods and 'green shoots' everywhere?

Ok, here is my opinion - I DON'T CARE! Sorry, don't mean to shout. But these are things that I have absolutely NO control over. And to me, it's all noise. So, why should I be worried about what the government thinks about the banks. Even if ALL banks failed the test - it has been demonstrated that money can and WILL be printed to 'let no bank fail'.

The only thing I concern myself with is PRICE ACTION. I react to the market. Let's face it, I am not one of those traders who 'positions' in front of news and anticipates reaction to news. A) It's not my style, B) I don't have deep pockets, and C) I don't have the analysis and experience necessary to do that. In any event, by the time you see it and position yourself, the BIG BOYS are already ahead of you.

So, what's my stress? Not seeing my price patterns for trading and not getting any buy/sell signals from my indicators. That's it. I am only worried about watching the action unfold and recognizing price patterns that fit my strategy and trading plan. Once I see it, I will trade it. My focus over that last 9 months has been and will continue to be, intra-day price action. I am not interested in holding anything overnight for now. I absolutely love this rally, and when I see good setups, I feel confident that I will start swing trading again. We need to let the dust settle and let the market prove to us that we are out of the woods, not hear it from some CNBC analyst.

The job numbers are out and futures have retraced a bit. I am still 'expecting' a minor correction - but who knows with this market, one day may be all we get for now.

Good luck in your trading and I'll see you on Twitter.