shorts today ?


  • 0
  • BruceM
  • 26-Feb-2008 at 12:39 PM
  • Rep: 216k
  • Posts: 19.9k
Seems like the market wants to retest 1370 area from up at 1384....anyone have a good reason to stay long for the third day in a row..after a a gap fill.?..I'll press the short....
  • 0
  • RogueTrader
  • 26-Feb-2008 at 3:41 PM
  • Rep: 30
  • Posts: 12
I'm just a bit confused as to why the market rallied when every piece of news out today was negative. That really frustrates me sometimes...

  • 0
  • BruceM
  • 26-Feb-2008 at 4:25 PM
  • Rep: 216k
  • Posts: 19.9k
seems like today the liked what IBM said....unfortunately one company can sway the market for a day....but what about tomorrow???
  • 0
  • RogueTrader
  • 26-Feb-2008 at 5:08 PM
  • Rep: 30
  • Posts: 12
I'm with you that tomorrow things will be bearish. All technicals point toward that end in my opinion. I'll be looking for shorts.
  • 0
  • BruceM
  • 27-Feb-2008 at 9:07 AM
  • Rep: 216k
  • Posts: 19.9k
just like IBM yesterday ( leading market higher)it seems that Microsoft is giving the market some lead on downside.....I'm still looking for that 1370 to "fill in" ..selling rallies today...if any come!!
  • 0
  • BruceM
  • 27-Feb-2008 at 10:01 AM
  • Rep: 216k
  • Posts: 19.9k
sold the 78 number it was 50% of gap and near pivot and plus 4 number,,,now we need some luck..to get that 70 number
  • 0
  • BruceM
  • 27-Feb-2008 at 10:19 AM
  • Rep: 216k
  • Posts: 19.9k
had to add at 80.75....obviously trying to fill the gap......lots of numbers in the 83 area......if it gets there...must get below 76 to increase odds of the 70 target....
  • 0
  • BruceM
  • 27-Feb-2008 at 10:36 AM
  • Rep: 216k
  • Posts: 19.9k
it's interesting that all the high volume bars are above the market now that the market has dropped down to the 74 area...so shorts should still be the way to go....hour break out still needs to be done as bernake speaks.....trade above 78.75 will stop out my runners and will probably lead to gap fill and failure for the 70 target I was looking for....
  • 0
  • BruceM
  • 27-Feb-2008 at 10:48 AM
  • Rep: 216k
  • Posts: 19.9k
trying this again at 89.50 on the short side.....83.75 is first key to be tested....higher risk as hour broke out to upside etc....
  • 0
  • BruceM
  • 27-Feb-2008 at 10:50 AM
  • Rep: 216k
  • Posts: 19.9k
interesting that the hour projection players hit heir targets early today......if we get to 1393 then this gets real interesting for us who fade the markets
  • 0
  • BruceM
  • 27-Feb-2008 at 11:15 AM
  • Rep: 216k
  • Posts: 19.9k
paired out at 84 even..stops at 88 even for runners..next target is 80.50.....35K volume on a one minute bar..at the highs...is anyone left to buy???..that could cap the upside for today...but anything goes,,,trying to hold for bigger sell off...no buys up here for me...
  • 0
  • RogueTrader
  • 27-Feb-2008 at 5:22 PM
  • Rep: 30
  • Posts: 12
My mistake today was making a two-three day forcast and trying to fit it all in a single day. I should have realized that there'd be a bounce or two before we see the real selling. I suspect tomorrow will be a bearish day. Today was still a good day to me, I hope everyone else had a good day. Good luck tomorrow!
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