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shorting right now is madness. Ok it’s possible to grab 3 or 4 handles on a counter trend trade but why fight the trend?? Far far easier (and less nerve racking) to make money longing the dips with much greater gains than 3 or 4 handles.
I guess it’s about individual trading styles, for me, I wanted to short this a couple of days ago on the Wednesday night close, I didn’t basis couldn’t support it technically, just so happen a Dow/s&p short that night would have yielded 10/100 points, anyone long on wed night may have been wondering why they had just bought a market high, though it then recovered on the day.
I didn’t have the nerve to short it as I couldn’t see a technical reason, so decided to hold off expecting at least panther 10/100 higher and that has happened now, so I’m happy to start building into a position, generally I run positions a lot longer these days.
We all know what it takes to build the market up it generally knocks back down at 2-3 times the speed it builds it up. For me I’m much more happy buildings a short position at current market year high levels than a long position, yes granted the trend is your friend, but key resistance and retracement percentages are important too (Dow,Dow transport index, vix levels etc.
that said, the day I call a very top or bottom is they day i’ll retire 🙂
had alarm set on phone for 21:10L checked charts,
it was up was going to short and chickened out decided too news driven and it could do another +100
Now its 60 damn points lower, should have followed my day long plan but opted for caution !!
just want this debt thing out threat then I Wil get back in the water…..
what a chicken eh ! risk v reward for me I’m afraid, still see this as a gamble. appreciate market rise is in anticipation of a deal, so a non deal will be messy, but really ?? they print more money every month, will they let it happen !?
decides to go for mild option bought s&p bear funds in sipp instead.
guess I need to service my kahoonas !
hey Kh,
I’m still flat, I may miss the show boat, does it interest you to know that a month ago (3rd wed of the month) is the night the market spiked up grrrrrrr and then drifted back down over the following session.
it is killing me not shorting this, but too many times a good result comes via a detour and I’m trying to avoid the detour ! 🙂
if I miss it I’ll be annoyed though… safety first must sit on hands, must sit on hands.lol, ah I know I’ll go out tonight but then I’ll end up putting some rediculous trade on is my phone and forget I’ve done it till the next morning when I go to open a position and the P&L number isn’t a zero !! 😉
want to short this, but not got the bottle or a technical reason, I guess I will make a decision at 21:13
So there is that +100 flash I was worried about, but I can’t see a reason why, nearly reached agreement and Fitch puts US on negative watch and a deadline of tomorrow, I think it’s gonna be one whippy market today, any hing with stops could get hit and then its back to its starting point in a nano second, or it just keeps on going in the direction it starts, today I do feel may be a stand aside day for me as numerical and trend support/res may not be relevant……. Pah, look at me thinking bout funny-mentals (fundamentals) rather than just the charts !! Unheard off but I thina perhaps a position on the close of the US session may be an order of the day today instead for me.
My goodness….. I don’t remember those posts last night, too much red wine !!
closed last nights shorts too early, but hey profit is profit. Longed that heavy dip for a bounce, out for a quick set of points reversed short and now flat again, I don’t have the bottle to run anything in case it does a flash 100 against me !
jeez !! that does not make sense at all !! had too much to drink gone short on close Monday night…. that’s what I was trying days at, lol
……
ha ha kh, 31 fantastic, I hav had a day of union activities,
figures So figured I’d let it grid up and the go short so tag is the position I have materialised on the close. how many point is enough…..31 is phenominal, if I could show a girl 25 at the bar I would hope its enough….. clearly not ! 😉
he he salty :)had done my weeks target and was happy to slip that one and remain flat, now waiting for a technical reason to trade, rather rather than out of boredom lol
kh, yeah all good, glad summer coming to an end need a rest ! 🙂
http://www.marketwatch.com/story/gold-tumbles-further-below-1300-on-deal-hopes-2013-10-11?link=MW_pulse
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<div>2 million ounces !! that’s 56 metric tonnes of gold !!!!</div>Awesome stuff Ark. My stance is now NEUTRAL from TREND DOWN. Not quite TREND UP yet. This is indeed very perky and looks a break up., but to me resolution is in the price. As the economic numbers get better talk of tightening will come to forefront and that will invariably cause this pollux to unravel
3rd attempt to post….
to much too soon IMHO, though not ballsy enough to short it, may flag and pop again on some news but the plan was es resistance, and eh voila, though didn’t expect that quick from bottom of the YM support, thoug vix was good. What did we used to say, never go broke taking a profit but greed will lead to a loss etc.
i wonder if everything will open again in the states, debt ceiling gets lifted, then all of a sudden it’s bad news instead of goods news, and whack, were right back at the top of the down trend.
crazy times, glad too be out the water for the weekend. Bon weekend all, off to work for the night.
i clicked on the links, no hardcore p@rn though…. Try harder
