[cowpip]

These large swings are quite common during low-liquidity periods, and particularly on cable in December. Today you may see a large swing higher. Tomorrow, you may see prices reverse sharply lower. The moves, particularly now when volumes are low and few people are at their desks, can be quite extreme. They're lucrative, but tricky and risky to trade, and less predictable than under normal volumes. Standard patterns people watch for often break down and what would probably normally be a fairly firm support or resistance level may fall apart fairly easily under these illiquid conditions. If people trade these conditions, reduced size is probably not a bad idea.