Futures Morning Thoughts

What a time to be stubborn with my trading and hold lindex longs overnight. We have options expiration today. For me, I might as well go the Vegas, grab a big fat Guinness and mosey on up to the crap table. Set-ups today mean nothing. The whipsaws that happen today will be mind numbing for futures traders. Best thing to do is either sit on hands and be a student of the market just by watching the action during various time periods to further educate oneself about price action during this period, or do quick scalps based on tape reading. With my longs in-hand during this period, I choose to be a student. Besides, can't trade with your fingers crossed. My thesis for today is that profit taking in both crude and gold, as well as upward resistance for the yen will result in an upward chop for the market. That said, I will not be mopping around the house this weekend wondering what happened if my p/l is lower at the end of the day. If I have left any doubt, options expiration day is not a good day to trade futures.