Ya see, you should have liquidated your entire position yesterday and bought back at a cheaper price, provided that you think it will head higher from here (which I doubt).
I took the dog for a walk before 3 pm thinking this market was boring and when I got back the Dow was down -250. Well, on the daily chart the SMA 9 (what I use) was way higher somewhere around 852.... Once the trending stops (like now) and the market goes sideways the SMA is useless because it is being crossed back and forth... Yeah, but you didn't say which direction!
I stated here earlier in the week price was wound up in the low 40's and wants to return there. 46.50-52.50 is prime wind area now. Need a convincing break of 13 or 77 to get a bigger trend going down or up.
Saliva: I do not know what the market will ultimately do. My research told me last night as I communicated to you that I was anticipating a move down. I still think the market will hold above my stop (729) but only time will tell. In addition, my analysis could have been wrong and then I wouldn't have made any money. Trading is a tough business. DMartin
PS Saliva: If I get stopped out at 729 my risk at this point is probably around 1/2% of my TNW since I've taken profits along the way and have moved my stop up. I should figure it out exactly but haven't taken the time. DMartin
I disagree. It is very worth it and if you are not trading more than 100 cars then volume is no problem.
The fact that you don't need large volume to move the market is what so crappy about AH. And speaking of AH, it used to be that there was hardly any correlation between ES and its European counterparts (FTSE and DAX). Now, they trade in lock steps. No wonder this world is so screwed up. They're so integrated that should one go under it brings down the entire world.