Posted by Palladin on 21st of Jul 2011 at 12:54 pm
this fool put in stink bids that are countertrend and not
likely. Top or bottom. The odd time I catch one or two and it pays
off! Requires patience and constant monitoring...
The 1344 was a clear objective area to short. Oviously a close
above there is your stop, but my feeling is that we are close/at
wave(b) and (c) down to come for wave E before we have a large move
up. So it depends on the timeframe you trade. At this time I favour
a move down before a larger rally/blow off.
Posted by david_lee on 21st of Jul 2011 at 12:42 pm
I do not look at EW... has never made sense to me and I do not
know of many big money managers that trade based on EW.
It's hard enough as it is to tell the up or down direction in
any day; not to even mention EW attempt to PREDICT the ups, downs
follow by up and then down.... that's the greatest joke IMO. It's
just silly.
No one knows how to
Curb your enthusiasm
Posted by david_lee on 21st of Jul 2011 at 12:04 pm
No one knows how to catch the top; it's a fools game trying to catch turning points;
Just trade or go with the trend - shorting here is foolish or a fools game
this fool put in stink
Posted by Palladin on 21st of Jul 2011 at 12:54 pm
this fool put in stink bids that are countertrend and not likely. Top or bottom. The odd time I catch one or two and it pays off! Requires patience and constant monitoring...
david_lee , explane why its foolish to short at resistance?
Posted by kobie on 21st of Jul 2011 at 12:27 pm
The 1344 was a clear objective area to short. Oviously a close above there is your stop, but my feeling is that we are close/at wave(b) and (c) down to come for wave E before we have a large move up. So it depends on the timeframe you trade. At this time I favour a move down before a larger rally/blow off.
I do not look at
Posted by david_lee on 21st of Jul 2011 at 12:42 pm
I do not look at EW... has never made sense to me and I do not know of many big money managers that trade based on EW.
It's hard enough as it is to tell the up or down direction in any day; not to even mention EW attempt to PREDICT the ups, downs follow by up and then down.... that's the greatest joke IMO. It's just silly.
I don't look at EW either
Posted by Tango on 21st of Jul 2011 at 12:43 pm
I just follow Cramer.. LOL
Posted by zach06 on 21st of Jul 2011 at 12:43 pm
The short was very logical ...especially when the move up was parabolic
Posted by zach06 on 21st of Jul 2011 at 12:31 pm
the real question is don't fall in love with your short and know when to get out on a trend day