Oh the insanity--Week in Review 9-20-08

I'm still pretty ignorant of stock market history, but from what I read from people who know, this was one unprecedented week. I'll have to admit I was feeling a little odd on Thursday and Friday. It almost felt like the end of the market as I knew it. Everything seemed to be changing, and I became worried about my future as a trader.

Friday's opening gap made it nearly impossible for me to get into any trades with good probabilities. It seemed like every stock gapped up 3-6% and then flatlined the rest of the day. There was really no wiggle room for me to trade in. That's OK, because I took the day off and got some stuff done around the house.

It's crazy that the markets ended up pretty much where they were before the week began.

The down days were good for me as I made 11.22R for the week. I'm thinking anyone with some good sense could have made a LOT of money this week.

The Zweig RS 5 screen lost .20% this week while the MACD screen (with only on candidate) made over 9%.

Trader Mike has a good post about the spikes that a lot of stocks showed during Friday's frantic trading action. I noticed strange spikes on a lot of stocks yesterday and that's part of the reason I stayed out.