We are in a balanced market. If one were going to initiate a short, between here and 75 would be the place to do it. If one is to go long here in anticipation of a breakout, the stop should be relatively close IMO. I think satchel held on too long, but hey, what the F do I know? Not much compared to him, so we'll see. I would be cautious about a long at this point, at least I would not give it a lot of room.
As I said yesterday...the bigger IHS is looking for shorts to add to the fire and bigger push north. caution
Are you adding to your current short? We are at the top of the downward sloping channel on the 60. A breakout however...ughhhh.
stop to 68.5. don't think we see that again....but in the end, all thoughts are guesses. Satch......you still adding to that short?
Quote from Trvlwanderer: L 70 stop 67 tgt 74 may flex stop stop to 68...may add contracts if we get and maintain 72. Stop to BE (70)
Trlv, you don't seem too sure of this trade? I almost bought YM12250 today but hesitated and didn't go thru with it. I got a lot to learn.