The positive news in the form of court verdict against the tariffs didn’t work a bit. The indices continue to eke out the ongoing sideways price action. As suggested earlier, keep it confined to day trades. For eg. Metals were looking spiffy a day earlier but today they are getting pounded There must be some reason around. It doesn’t matter if you know the reason or not- the fact is that if you had created longs and not taken your money when the sector was in play, you have nothing or a loss to show for today! This is the status today. Why? Again, no one has an answer.

Sometimes, in the market, things are just what they are. But it is we who seek attribution so that we can be comfortable with our actions. Once we learn to approach the market a bit more factually (the fact being ‘Market is what it is’ and not what we want it to be), then trading will become easier. For investing you can perhaps think different because Time may, possibly may, will work for you. But if you bring that thinking into trading, then you are a goner. Understand this difference. Most players in the market are investors first and traders next. Perhaps the more recent entrants have an advantage there- they came in as traders (especially in Options) and have not been sullied by Investor thinking yet!

Be that all as it may, stocks are not faring that badly. But again, they are all over the place and since no specific news flow of any significant nature is seen, whatever play you may take should continue to be day trades only. Since sector breadth is mostly negative, day traders should be looking for shorts rather than longs.