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Old Feb 23rd, 2012, 08:52 AM   #5071
JoshDance
 
 
Join Date: Aug 2007
Posts: 3,653
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.
 
Old Feb 23rd, 2012, 09:07 AM   #5072
Lawrence Chan
 
 
Join Date: Sep 2001
Location: Toronto, Canada
Posts: 5,702
Quote:
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. =)
 
Old Feb 23rd, 2012, 09:32 AM   #5073
ammo
 
 
Join Date: Feb 2007
Location: chicago
Posts: 20,380
51 cash
Attached Images
File Type: png 2012-02-23-tos_charts.png 51 cash.png (68.5 KB, 45 views)
 
Old Feb 23rd, 2012, 09:39 AM   #5074
ammo
 
 
Join Date: Feb 2007
Location: chicago
Posts: 20,380
same line in spy is 135 46
Attached Images
File Type: png 2012-02-23-tos_charts.png 135 46.png (63.0 KB, 43 views)
 
Old Feb 23rd, 2012, 09:41 AM   #5075
Laissez Faire
 
 
Join Date: Sep 2010
Posts: 4,531
Quote:
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.
 
Old Feb 23rd, 2012, 09:42 AM   #5076
ammo
 
 
Join Date: Feb 2007
Location: chicago
Posts: 20,380
trans
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File Type: png 2012-02-23-tos_charts.png transs.png (60.5 KB, 41 views)
 
 
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