Taking half off .... but i'm looking at trading around my core
position ... for me, the aggs will probably be the next hot
things for the next few weeks/months, so I want to keep exposures
to them and looking to buy dips and sell into excessive moves up
.... like it's the case here IMHO
per my weekly symmetry chart, once a good correction occurs I
think it will make a higher low. Again that should be a nice
pullback when it occurs, but something to look for on the next
correction, not a one day or 2 day pullback, but after a good
pullback, it's a weekly chart so you have to keep that into
perspective
short term now it's VERY extended and swing trades who missed a
long entry a while back should not chase it here, but wait for that
larger pullback
DBA
Posted by mla127 on 6th of Jun 2016 at 11:29 am
Taking half off .... but i'm looking at trading around my core position ... for me, the aggs will probably be the next hot things for the next few weeks/months, so I want to keep exposures to them and looking to buy dips and sell into excessive moves up .... like it's the case here IMHO
per my weekly symmetry chart,
Posted by matt on 6th of Jun 2016 at 11:32 am
per my weekly symmetry chart, once a good correction occurs I think it will make a higher low. Again that should be a nice pullback when it occurs, but something to look for on the next correction, not a one day or 2 day pullback, but after a good pullback, it's a weekly chart so you have to keep that into perspective
short term now it's VERY extended and swing trades who missed a long entry a while back should not chase it here, but wait for that larger pullback
DBA
Posted by mla127 on 6th of Jun 2016 at 11:42 am
On the daily and weekly, I would even say that DBA start to look like an attractive SHORT trade on the short term ....
edit: A pullback around 21.30/21.40 would be perfect to back test previous resistance ...