So What Is A Trader To Do?

Greece (Grease) is on a very slippery slope.

There is no doubt in my mind that Greece is going to default. I believe they are going to revert back to the drachma, which was the currency before they joined the euro zone. Having grown up in Europe, you become aware of the different nationalities and their cultures, all of which seem to be at odds with each other. I’m sure the German mindset cannot understand the Greek mindset and vice versa.

So what is a trader to do? Simply rely on the direction of the charts, 99% of the time they get the direction right. In the last two days, we’ve seen very sharp down turns and so far today we have seen a short-term rally. I see trading fatigue seeping into the market, as triple digit swings in both directions are costly and based heavily on news from Europe.