beware-double top on Dow-DAILY

Discussion in 'Trading' started by NY_HOOD, Dec 4, 2008.

  1. the averages formed a double top on the daily chart today... look to short here with protective stops. DOW id currently down 2 point.
  2. oatmeals


    good stuff, thanks
  3. It's not coming back down?
  4. i just stopped myself out. i'll re enter a short if we start to go negative again or else gotta look to the long side. this is part of being a trader,getting out quick with a small loss,thats why i made this post. am i a genious,the farthest from it!
  5. i am short again with a stop .12cents above today's high.
  6. what product do you use to go short? Levered ETF?
  7. You see a double top but I see an inverse h&s.

    1st s on 11/13, h on 11/20 - 11/21 and 2nd h 12/02.
  8. so you're going long?
  9. went long Qs yesterday at 28.01. Watching for a break above 29.36. otherwise I exit. Stop at 26.98
  10. seems to be a cut down the middle for bull and bears.

    market can go either direction, however, market seems to be immune to any type of news.

    any type of positive news with big three auto, or obama can lay a fart...and the market can go flying again.
    #10     Dec 4, 2008