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JoshDance
Registered: Aug 2007
Posts: 3648 |
02-23-12 01:52 PM
In a very unrealistic simulation scenario for me, I am still sim short several more units than I'd be trading with real money, average is at 55.25 -- yesterday I put the stop around 66, as the key resistance is really just under there at 64s. I'm doing this remotely so I can't really get a good look at my charts, but value built lower yesterday than the day before, and while the chart does have a bit of a "basing" look to it, I'll keep this on. 49.50 is first target and will take about half off at that point. Rest is at 36.00
BTW, I think 1308 is a fantastic longer term target for a short, if you expect that a correction is coming and that it will be the biggest correction of the year. Hope this works out for you LF. I won't say "so and so WILL happen" but any significant correction, which must happen in all markets at some point, WILL be drawn to 1308, it's just the way it is IMO.
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Lawrence Chan
DaytradingBias.com
Registered: Sep 2001
Posts: 5560 |
02-23-12 02:07 PM
Quote from JoshDance:
In a very unrealistic simulation scenario for me, I am still sim short several more units than I'd be trading with real money, average is at 55.25 -- yesterday I put the stop around 66, as the key resistance is really just under there at 64s. I'm doing this remotely so I can't really get a good look at my charts, but value built lower yesterday than the day before, and while the chart does have a bit of a "basing" look to it, I'll keep this on. 49.50 is first target and will take about half off at that point. Rest is at 36.00
BTW, I think 1308 is a fantastic longer term target for a short, if you expect that a correction is coming and that it will be the biggest correction of the year. Hope this works out for you LF. I won't say "so and so WILL happen" but any significant correction, which must happen in all markets at some point, WILL be drawn to 1308, it's just the way it is IMO.
Below 50 down to 47 is measured target for several swings from above.
It is also prev week midpoint. =)
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Laissez Faire
Registered: Sep 2010
Posts: 4153 |
02-23-12 02:41 PM
Quote from JoshDance:
BTW, I think 1308 is a fantastic longer term target for a short, if you expect that a correction is coming and that it will be the biggest correction of the year. Hope this works out for you LF. I won't say "so and so WILL happen" but any significant correction, which must happen in all markets at some point, WILL be drawn to 1308, it's just the way it is IMO.
Thanks.
Yes, sooner or later. But when?
Maybe one last push to new highs first? The trend is still up, although I was expecting a a correction from here.
Ready to lock in some profits here.
I think they may just be delaying the inevitable here at 53. Just a crazy guess. 
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