Only way would be if we get a short covering rally . They
hit all the buy stops near SPX 860 and all the short cover stops
once 855-860 area cleared. This could be why were kinda just
holding stready at 871 currently
Posted by dallassteve on 28th of Jan 2009 at 03:21 pm
Good call concerning shorting. SPX hit 866. I'm
late, but I might jump in soon. If anyone else is thinking
about shorting SSO at this point, I sure would be interested in
your idea of a stop. Thanks.
Only way would be if
unless you believe we started
Posted by cspirit on 28th of Jan 2009 at 03:07 pm
Only way would be if we get a short covering rally . They hit all the buy stops near SPX 860 and all the short cover stops once 855-860 area cleared. This could be why were kinda just holding stready at 871 currently
Good call concerning shorting. SPX
Posted by dallassteve on 28th of Jan 2009 at 03:21 pm
Good call concerning shorting. SPX hit 866. I'm late, but I might jump in soon. If anyone else is thinking about shorting SSO at this point, I sure would be interested in your idea of a stop. Thanks.
If we close above SPX
Posted by cspirit on 28th of Jan 2009 at 03:30 pm
If we close above SPX 861 we have retaken support. Tricky for sure which way to trade this sucker.
Short covering is not a
Posted by junkmaylbox on 28th of Jan 2009 at 03:21 pm
Short covering is not a rally: it's only a one-day bounce. I would be surprised if tomorrow we will get a continuation.