shorts today ?


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  • BruceM
  • 26-Feb-2008 at 12:39 PM
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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....
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  • BruceM
  • 27-Feb-2008 at 12:28 PM
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got stopped and re entered at 87.75..short side obviously..dow made new high but not s&p so re-enter was valid..now we need some co-operation and bernake to stop talking......single ticks run all the way down to 81 area...still want that 1370...lol.....that will be ultimate but so far that's not working...
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  • RogueTrader
  • 27-Feb-2008 at 1:27 PM
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I ended up going long on after 10am ET because I could tell proffesional money was holding prices despite the bad news, took a ride up and now the markets are consolidating, I am 80% sure they are building a short position and then we go dooowwwwn...
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  • BruceM
  • 27-Feb-2008 at 1:30 PM
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congrats Roque....my concern is that they may try to tag the r1 level and a gap is up there...but I beleive that most of the volume has been used up for an extended upside move today....perhaps I will be wrong...like yesterday..so we still might get a shake out to upside before it rolls over......at least it sounds like a good plan...
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  • RogueTrader
  • 27-Feb-2008 at 1:57 PM
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I'd think about going short on any rallies now. I'm short as I type this. A good guess I believe.
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  • BruceM
  • 27-Feb-2008 at 2:21 PM
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best fill for me so far is 78.25...this was key number from this morning I mentioned.....running out of ammo..81 - 83.75 seems to be the resitance zone now......trying for new lows on the day but that may be a tough one from here.....
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  • RogueTrader
  • 27-Feb-2008 at 2:30 PM
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I may eat my words but I anticipate more selling, well beyond today's open.
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  • RogueTrader
  • 27-Feb-2008 at 5:22 PM
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  • 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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