%% Amen; but when it [any]starts acting crazy on the upside, huge gap up or buying panic..... prefer To tighTen up stops , the best trends dont pull back much, anyway. 50 week moving average can help; IBD uses a 40 week moving average.....................................................................,,
I think you can place a short trade with conviction around this level.. the next move lower doesn't need a catalyst.. something like 2-3% down over the course of a week or two simply to shake out weak hands is no big deal.. no catalyst needed and will be blamed on profit taking. government shutdown this week could add some headline risk..
Trade starting out well. We're @2785.00. Some weak hands who got long before the open are getting shaken out here as we were in the 90s earlier. --I am not a weak hand.