camolile- yes but that's a broad statement, it
depends on your time frame. If you are a long term trader
managing your 401K plan, the trend did not change and so there was
no reason to change it from Long to Short etc.
however if you are a short term trader, then you could have
shorted the SPX last week at 1052 when it broke the trendline of
the triangle on the 10 and 15 min charts; the SPX pulled back to
1021, a very nice short trade.
Your time frame is important.
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market crash
Posted by as2029 on 5th of Oct 2009 at 10:21 am
"stretching" the tape ahead of a market crash
looks like dip buying to me
Posted by macnsc on 5th of Oct 2009 at 10:30 am
buying the 50ma bounce?
yep, that was a low
Posted by matt on 5th of Oct 2009 at 11:02 am
yep, that was a low risk trade putting a limit buy at the 50 MA on Friday with a stop below it.
Today the advance/decline is very positive, i.e. about 3:1 positive on the Nasdaq
The lesson is not to
Posted by camomile on 5th of Oct 2009 at 10:41 am
The lesson is not to trade against the trend
camolile- yes but that's a
Posted by matt on 5th of Oct 2009 at 10:55 am
camolile- yes but that's a broad statement, it depends on your time frame. If you are a long term trader managing your 401K plan, the trend did not change and so there was no reason to change it from Long to Short etc.
however if you are a short term trader, then you could have shorted the SPX last week at 1052 when it broke the trendline of the triangle on the 10 and 15 min charts; the SPX pulled back to 1021, a very nice short trade.
Your time frame is important.