Once this little top is actually in.... I would keep it and buy
more on the way up. If it pulls back, I would buy more. Keep your
stop just below the low. If price gets close... buy more. If price
crosses your stop............ then fold and move on.
well, it's going to be an emotional morning I'm sure.
Sucks that it has to happen on a shortened holiday trading
day. Plus Steve is only going to be here for part of the
morning.
I'll see what my gap indicator says in the morning after the
open and post it here.
This is how the market has been, the big moves tend to occur in
the futures market and it gaps in the morning, so basically you
just have to take a shot long or short when you see divergences,
etc because it doesn't let you in otherwise.
Personally in my trading account, I guess I have some shorts,
such as the SRS long from the swing trade, as well as RWM, the
Russell 2000 short ETF, but I'm not loaded to the hilt which would
have been nice. However I'm also long BIDU from the swing
system, so I'm sure I'll take a hit on that.
Both oil and financials have had weak charts lately.
Oil's been trending down, If it can break the lower support line
on the 60 minute, that could give some short momentum to either the
USO or the oil stocks, oil service stocks.
It doesn't look like this is the last place for debt to blow up,
and the large banks seem to be sitting in the centre of the problem
arena. The financials have shown weak charts so this trend may also
continue.
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Any thoughts on if one
Posted by stevedfw on 26th of Nov 2009 at 09:34 pm
Any thoughts on if one should take profits right at the open on SDS and then rebuy on a pullback intraday? Any levels on SPX to watch?
Once this little top is
Posted by cal1 on 26th of Nov 2009 at 11:01 pm
Once this little top is actually in.... I would keep it and buy more on the way up. If it pulls back, I would buy more. Keep your stop just below the low. If price gets close... buy more. If price crosses your stop............ then fold and move on.
well, it's going to be
Posted by matt on 26th of Nov 2009 at 11:15 pm
well, it's going to be an emotional morning I'm sure. Sucks that it has to happen on a shortened holiday trading day. Plus Steve is only going to be here for part of the morning.
I'll see what my gap
Posted by matt on 26th of Nov 2009 at 10:51 pm
I'll see what my gap indicator says in the morning after the open and post it here.
This is how the market has been, the big moves tend to occur in the futures market and it gaps in the morning, so basically you just have to take a shot long or short when you see divergences, etc because it doesn't let you in otherwise.
Personally in my trading account, I guess I have some shorts, such as the SRS long from the swing trade, as well as RWM, the Russell 2000 short ETF, but I'm not loaded to the hilt which would have been nice. However I'm also long BIDU from the swing system, so I'm sure I'll take a hit on that.
Thanks Matt--If this is the
Posted by sharonrose on 26th of Nov 2009 at 11:21 pm
Thanks Matt--If this is the start of a intermediate correction there should be time to get short here, right?
Maybe you could give us some support levels to watch for. Also if the selling is orderly or impulsive.
Any short trade idea's if this get's impulsive?
Chri
Title: Canadian Sectors response to
Posted by schnellinvestor on 27th of Nov 2009 at 12:37 am
If your looking for ideas, Canada was open today.
Both oil and financials have had weak charts lately.
Oil's been trending down, If it can break the lower support line on the 60 minute, that could give some short momentum to either the USO or the oil stocks, oil service stocks.
It doesn't look like this is the last place for debt to blow up, and the large banks seem to be sitting in the centre of the problem arena. The financials have shown weak charts so this trend may also continue.