My trading strategy for today remains the same as what I stated a few days ago. Contrary to what a few traders or for that matter, even a few trading books think, just good money management is not sufficient to make money in the markets. It is necessary but not sufficient. In order to make profits consistently for a long period of time, you need an edge. Something that makes you stand out from the rest of the market. For some, it might be their ability to read balance sheets, or expertise of a particular sector, or ability to trade the news. For me, technical analysis is that edge and in news dominated markets like the one we currently have, I lose my edge. And once I have lost my edge, I know that a monkey throwing darts at a dartboard filled with stock names can quite possibly do a better job than me. Hence, no edge, no play. Its as simple as that.