So if that's my thesis I think the play here is simply to use any rally (esp to the top of the recent range) to add to short positions
PS...I managed to SKI a little, and I didn't break my ass. A proud moment in my recovery.
Sunday, January 25, 2009
Bridge to nowhere
I should have known better than to be excited at a gap down opening before I left on Friday.
So if that's my thesis I think the play here is simply to use any rally (esp to the top of the recent range) to add to short positions
PS...I managed to SKI a little, and I didn't break my ass. A proud moment in my recovery.
So if that's my thesis I think the play here is simply to use any rally (esp to the top of the recent range) to add to short positions
PS...I managed to SKI a little, and I didn't break my ass. A proud moment in my recovery.
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2 comments:
Congratulations on not breaking your ass!
Otherwise, I think the two of us are the only knuckle heads that see the last week of range trading as a stall before a big drop rather than a basing pattern to launch upward.
We'll see...
GL
Fuzz
Thanks, Fuzz! I was a little wobbly at first, but I think I accomplished what I set out to do on Friday.
I just think that a rally on declining volume (and today looks ridiculous, volume-wise) is not something to get too excited about. The more longer term charts I look at, the more bearish I find myself becoming.
But knowing this market, I think it's more than likely we'll see some sort of fakeout rally before "the" drop sets up.
Anyway thanks for visiting sir.
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