Thanks, I do not belive in predicting moves at-all, I am just a trend follower. Looking at the action it looks like we have every reason to move back to 950 levels. I will try to capture the middle of the move and wont try to pick/ predict the bottom. Start building shorts, I would say if you are not get at least 20-30% short exposure and rest cash. DO NOT try to look for bargain shorts NFLX, AAPL etc. rather do GOOG. or just stay out of Tech sector. Most likely there will be a strong shake out in commodities, however is you are long - just hedge your positions. Commodities is the next thing to ride.
Excellent post. You gave alot of valuable info here. You are obviously a very good trader. I totally agree about nflx & aapl too.
Thanks Bud. Trading is a grind until you can say this without ego - "I keep making money, I can't help it" I always think people think that the "Bears" and "Bulls" are almost two set of groups. Funny truth is they are the same and they just change sides when its convenient. something to think about.
Yep. However the bulls have been seeing gains get wiped out on the following day when the futures open weak. Closely watch for a break of around 1,170 for the SPX...