Discussion in 'Trading' started by mikeenday, Nov 11, 2011.
will be interesting.
Put some shorts end of the day and wait for Monday to confirm to not.
What kind of event you expect to move the market down on Monday ?
Or you just merely double down your bear position ?
I heard a lot of talk, this rally today is on no volume, make sure you get short before the close today because when the volume comes back it will be straight down. The only people more skeptical than me in this market are the guys that hang out at zerohedge but looks like to me like there are more stops that need to be run through before the big boys decide to try the low end of the range and test the 1100's S and P again, just seems that way to me. We shall see come Monday but I kept my finger off the sell button as hard as it was to do because I think I can do better next month.
I'm expecting Monday shows a failed breakout.
I hope you remembered stops, even though stops aren't (obviously) a good idea for most non-intraday trades, this is a good time! I did the exact same thing the weekend of 9/11, in the possibility that there would be an attack... ended up still making money.
When you hear that Italy joined the IMF, you will know that someone was bull trapping you.
Italian Parliament Approves Financial Stability Law, Clearing Way for Berlusconi Resignation.
The head of the International Monetary Fund, Christine Lagarde, said Saturday that Italy's political transition over the next few days should send a "clear sign of clarification and of credibility" that the country is now on the right path to get its finances back in order.
Speaking to reporters in Tokyo, Lagarde had high praise Saturday for Monti, saying she had great esteem for the "quality" economist with whom she had long enjoyed a "extremely warm" and effective relationship.
The IMF has a key role to play over the next few months in overseeing Italy's efforts to pull itself back from a Greek-style economic disaster, monitoring how it implements reforms to rein in debt and spur growth, which is projected
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