I wish I had your confidence. I'm sure if I start buying VXX
long or shorts or any stock for that matter, the market will go the
opposite. I prefer to stay on the sideline for now. I've only put
some in gold, that can't be a bad investment at this time. With all
this turmoil, I find it hard to find good signals to rely on. I've
got to say I had not discovered TA back in 2008 so this excessive
volatility is new for me. I may consider shorting when a bounce to
resistance occurs.
altlantis - I am simply pointing out the possible support areas
in conjunction with Fib levels. As I have said ad naseum, respect
the prevailing trend (especially if swing trading) and the short
trend changed from positive to negative after 1330 was lost more
than a week ago and has continued lower.
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SPX Daily with Fibs and Support Areas
Posted by steve on 8th of Aug 2011 at 09:20 pm
$SPX
Absolutely no sign of reversal yet....as I stated below I will be watching bonds for clues.
Hi Steve, I wish I had
Posted by atlantis on 8th of Aug 2011 at 09:45 pm
Hi Steve,
I wish I had your confidence. I'm sure if I start buying VXX long or shorts or any stock for that matter, the market will go the opposite. I prefer to stay on the sideline for now. I've only put some in gold, that can't be a bad investment at this time. With all this turmoil, I find it hard to find good signals to rely on. I've got to say I had not discovered TA back in 2008 so this excessive volatility is new for me. I may consider shorting when a bounce to resistance occurs.
Thanks for the input though ! :)
altlantis - I am simply
Posted by steve on 8th of Aug 2011 at 09:50 pm
altlantis - I am simply pointing out the possible support areas in conjunction with Fib levels. As I have said ad naseum, respect the prevailing trend (especially if swing trading) and the short trend changed from positive to negative after 1330 was lost more than a week ago and has continued lower.