I think he is willing to hold that for a month or two as long as he is not stopped out. He held the short a while and was handsomely rewarded. That appeared to be a longer-term swing trade.
Are you serious? I have been the biggest bear on this thread since 7/19.... I am still a bear long term. That is why I am still short on a position trade. However, the trade to the long side was a good probability with amazing R:R. The market flows in cycles and waves. My job is to catch the turning point of these moves with the smallest risk possible. I dont watch cnbc.. All I know is that I trade with an edge and probabilities. If everytime I take a trade you take the opposite I guarantee you will be burned..... badly.
with you allllll the way on that.......every rally from here on out shall be spanked.....especially if we surpass todays swing hi.
I think he is willing to hold that for a month or two as long as he is not stopped out. He held the short a while and was handsomely rewarded. That appeared to be a longer-term swing trade.
Stopped out for -2.75pts, -6 pts, and -2pts on my third entry Trade was looking good, PA was trading perfect until it couldnt take out the swing high. On sidelines to see if this 1422-1424 level is going to hold. If it is taken out my bias obvisouly shifts to down and will be looking to sell rallies. Before... http://elitetrader.com/vb/attachment.php?s=&postid=1568909 After....
This penetration of the 24-22 zone could be the real deal, in which case it's look out below. I'm watching the 15min chart for confirmation/non-confirmation. With this volatility, the bar ranges are large so confirmation will require a significant move one way or the other. EDIT: A pitched battle is going on now with 1422 the line of scrimmage. The opponents are closely matched, a lot hangs on the outcome, and the next 45 minutes are likely to be intense.