Finally.....first sign that we are about to get a minor correction.... Still short YELL short MLS from 42.68 stopped out FITB for a 2.10 pt loss on 11/22 ( all that blabbery about possible end to rate hikes a week ago sent banks up) So any one else feeling the bear train just pulled up to the station??
Please...please... if you are a bull please exit the train....the bears are now boarding! Look at the DOW on the daily charts.... surely you agree that with todays candle we are headed to a Fib retracement of 38% @10668 area. Which also has that lil bit of support from 3 weeks ago. All im saying is we are getting an additional 150 to 200 pt drop within the next week or so. Also look at the daily volume... it has been decreasing slowly during this bull run in the last 30 days... but it sure as heck has picked up in these last 2 bearish days. so i say.......All aboard whos going ashort!! (P.S.....i will be a bull after this correction )
My positions always stand until the end of the next day. I am long ES@1251.00 tonight and until market close tomorrow. At that point I will reassess for the next 24 hour period.