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looking to short for a crooks hr sell-off later to set up a dddd tomorrow. a close below the 68/70 cash level should be enough to signal some form of high is in
Its tough to see this reversing again today as we have reversed all yesterdays losses, it’s tough being a bear in this never ending grind up market.
If it goes back through 1802 cash, which I expect it to, then 1820 is on the radar and where ever that move tops should terminate the move up from the March 2009 low. However, this final push up could take a week or two to complete. Then the big down should follow.
Following Paps route at the minute. still short but ammunition to add either higher or after a breakdown.
This week on the retrace I decided to take the loss on my shorts from lower, that hurt, my logic was that there seems to be some kind of irrational exuberance in the market and I started looking back to the charts on the days the nasduq went to dizzy initial heights, only to start going ballistic thereafter. There were all sorts of overbought signals and this should be falling soon,
I have decided personally that there may be some more exuberance to come and goodness only knows how this thing is going to behave.
I hate closing a losing position but hey ho, reversed long and have just closed those at this level 1800ish through limit orders, it seems to be creeping but this 1800 and this Dow level seems to be problematic.
Back to the drawing board on Monday – a weekend with no position…gosh its been a while.
exhausted.comSeems to be holding above the previous high at the moment, money where my mouth is, I’ve taken a small long. looking to exit around 1820 (cash) and go short.
lol says it all. Ofcourse there are no crooks or manipulation. Total free market.
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