Posted by cwa82675 on 24th of Feb 2009 at 04:33 pm
sds at 89.50 and srs at 69.50. lets see if they can get some
follow through tomorrow. If so I will take the minor losses,
but I think the 775 resistance matt showed will knock them down a
bit. With the restistance in the 30 min chart at 775, the 10
min shows 778 and last weeks bottoming is not this weeks resistance
at 780. I dont anticipate us blowing through those numbers so
I took a 60% short position here. If we go through 780 I will
cover for a loss. glad gold finally gave way positions from
last week are doing very well.
I know some are giddy and excited about the rally today, but we
do have resistance a number of places. Its amazing how we
came right into it by the end of the day today. After this
chart I added skf to my holdings...
the daily resistance on the bkx is a little higher, this would
be something that could give the market some juice, but I wont
believe it until I see it!
again, a bunch of resistance right here we could stop here, but
we could also pullback here and chop around for a couple weeks
before ultimately making it back to backtest the broken
triangles. I think that is likely, but for me I would still
rather be short this market than long. That will change soon
enough, but not until I have more confirming signs.
Posted by junkmaylbox on 24th of Feb 2009 at 04:53 pm
I too bought FAZ and SRS at the close, expecting to unload on a
retracement of the move up today. I could be totally wrong here,
and have the same rational as you do. Good luck!
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loaded the boat - of shorts that is!
Posted by cwa82675 on 24th of Feb 2009 at 04:33 pm
sds at 89.50 and srs at 69.50. lets see if they can get some follow through tomorrow. If so I will take the minor losses, but I think the 775 resistance matt showed will knock them down a bit. With the restistance in the 30 min chart at 775, the 10 min shows 778 and last weeks bottoming is not this weeks resistance at 780. I dont anticipate us blowing through those numbers so I took a 60% short position here. If we go through 780 I will cover for a loss. glad gold finally gave way positions from last week are doing very well.
bkx.PNG I know some are giddy
Posted by cwa82675 on 24th of Feb 2009 at 05:35 pm
I know some are giddy and excited about the rally today, but we do have resistance a number of places. Its amazing how we came right into it by the end of the day today. After this chart I added skf to my holdings...
bkx daily
Posted by cwa82675 on 24th of Feb 2009 at 09:12 pm
the daily resistance on the bkx is a little higher, this would be something that could give the market some juice, but I wont believe it until I see it!
more resistance
Posted by cwa82675 on 24th of Feb 2009 at 09:08 pm
again, a bunch of resistance right here we could stop here, but we could also pullback here and chop around for a couple weeks before ultimately making it back to backtest the broken triangles. I think that is likely, but for me I would still rather be short this market than long. That will change soon enough, but not until I have more confirming signs.
I too bought FAZ and
Posted by junkmaylbox on 24th of Feb 2009 at 04:53 pm
I too bought FAZ and SRS at the close, expecting to unload on a retracement of the move up today. I could be totally wrong here, and have the same rational as you do. Good luck!