Thanks! I closed my long position(FAS) at the close, thought it best to take my profits. Not sure what tomorrow will bring. If the market does go up to 1131 I will go short. I short GLD(DZZ), GLD looked like a good short, touched the 20 day MVG ? I am long term Gold bull, though.
Why be anything, I ask? Sure looks like buy-the-dips is the better strategy right now. When the markets start to break down again, or at least show some negative momentum, then might be the time to *start* shorts. I'm not a professional nor a home-gamer with decades of experience, but I saw enough in 2009 to avoid shorting just because volume seemed thin, or I didn't like the policies or econ reports of the moment, etc.
I've seen a few traders who seem to know consistently what they're doing (I'm not yet one of them), and part of success is understanding when the thesis is wrong and needs to be discarded, bullish and bearish alike.
Hope it plays out
Thanks! I closed my long position(FAS) at the close, thought it best to take my profits. Not sure what tomorrow will bring. If the market does go up to 1131 I will go short.
I short GLD(DZZ), GLD looked like a good short, touched the 20 day MVG ? I am long term Gold bull, though.
Z, FAS is the long, FAZ is short. Which one are u referring to
yep we got 1127.30 🙂 I think next move is to 1131 then retrace to around 1112-15 to go to another high 🙂
DIA potential 108 this week, and then I'm going ALL SHORT, on overnights
Rounded bottom too, on the weekly, 1200 target, no crap it looks scary.
FAS short financial etf…RSI 37, RSI 30 is a mean lookin' drop.
1127.38 is the 100 day MVG on SPX. Are you looking at this level? There is resistance at 1132, the mid june highs.
Why be anything, I ask? Sure looks like buy-the-dips is the better strategy right now. When the markets start to break down again, or at least show some negative momentum, then might be the time to *start* shorts. I'm not a professional nor a home-gamer with decades of experience, but I saw enough in 2009 to avoid shorting just because volume seemed thin, or I didn't like the policies or econ reports of the moment, etc.
I've seen a few traders who seem to know consistently what they're doing (I'm not yet one of them), and part of success is understanding when the thesis is wrong and needs to be discarded, bullish and bearish alike.
Saw a possible fake print on IYR today:
http://www.screencast.com/users/dreadwin/folder…
Yeah Rosa… with that weekly chart point up it's a little scary to be a bear right now.