Posted by junkmaylbox on 12th of Feb 2009 at 05:23 pm
Yes, One needs to play this market with the old rule "buy low
and sell high", without expecting any breakdown to the downside.
And take profit as they come along. Today we saw high on ultra
shorts, and now SKF is low. It could move down to 120 or up to 150.
Roll a die. SRS is not low any more, it will be below 50.
Take profits as they come along and buy again to reduce your
costs. This is the strategy I am trying to follow. Good luck!
Posted by junkmaylbox on 12th of Feb 2009 at 05:43 pm
The chances of breaking down from the 770 to 970 range are
small, so with 6 out 7 chances (or something on this order)
one's profits will not materialize if one expects a market
breakdown and a fallout from this range.
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Buy low and sell high. And buy lower again!
Posted by junkmaylbox on 12th of Feb 2009 at 05:23 pm
Yes, One needs to play this market with the old rule "buy low and sell high", without expecting any breakdown to the downside. And take profit as they come along. Today we saw high on ultra shorts, and now SKF is low. It could move down to 120 or up to 150. Roll a die. SRS is not low any more, it will be below 50.
Take profits as they come along and buy again to reduce your costs. This is the strategy I am trying to follow. Good luck!
PS. We are in the range until proven otherwise
Posted by junkmaylbox on 12th of Feb 2009 at 05:43 pm
The chances of breaking down from the 770 to 970 range are small, so with 6 out 7 chances (or something on this order) one's profits will not materialize if one expects a market breakdown and a fallout from this range.