Scaling in long or short? On the 60 and daily I see the charts going up before going down, and 1280-1300 is much closer than 1130-1170. Ideal scenario would be a gap up and have the markets slamming it down all the way to the lows filling both gaps, but that's a "scenario" amongst others. I'm leaving a short @ 1265 if by miracle it pops up this high.
1) Australia has outright banned shorting of all stocks, whether you have explicit or synthetic access to such stock. If you own a stock outright, you can sell it. It's been all over the wires. Here's an article hot off the press... http://www.nbr.co.nz/article/australian-short-selling-ban-goes-further-other-bourses-35494 2) Prohibiting shorting futures would mean there is no futures market. There are 2 scenarios that I can think of at the moment where it could be enacted... a) futures market close, no trading allowed long or short. b) a single counterparty is appointed. In which case, shorts could be banned. If this were to happen, the least of the fears is being unable to short. Osorico
I'm gonna take stab here... short NQ at 1726.75 with stop around 1728 at this point (was 1730 a few min ago). Looking for 1711 minimum but would like to hold to see if we can get a gap-fill in the overnight.
stopped at 28, re-entered short at 27 stop at 28.50... 5-wave wedge waterfall action may play out :edit: stopped at BE... lame... 2 trades in a row that go >5 points in my direction then turn around to stop me out. So much for the straight line action thats been so prevalent the recently.
LOL, I was thinking the same thing. Maybe the anti-shorting rules have doomed the markets to an eternal grind in the congestion zone.
Yeah, a breakout to knowhere. Oh well, I'm playing Star Wars force unleashed to pass the time. btw, i have unlimited force ability and i have cheat codes to unlock all the characters and costumes. this game rocks!!! I have the psp version though. too bad the YM & ES are not as exciting today.
I initially planned on staying out altogether until the dust settles. After all, this is an artificially driven market. But then again, I fugured the market must move one way or the other regardless of government interverntion. Then why not pair trade? Long Spooz and short Naz. Just make sure to get out at the top (or the bottom).
This 12:1, YM pts to ES pts, is indicative of a big bounce. JMO EDIT: L YM @197, stop @172, x2 EDIT: stop @187, still no hard target. EDIT: stopped. got 185. -12x2. Will try Long again in a few... in the ET index chat room. Easier to post RT.