I remember Mymini posting a conspiracy theory based long call a while back, now that Reps have lost, I suppose some of their affiliates have to start offloading, yes or no? Opinions.
Well, I am a cautious long at this juncture. It looks like all news are viewed as good news, including the resignation of Rumsfeld, at least temporarely (nice spike on the news). There are surely a lot of people short based on this conspiracy theory. It would need much for them to have to cover and fuel the rallye. But on the other hand, I expect a fight at those levels. So cautiously long here.
I ended up holding onto my longs as well, but I did put a trailing stop on all of them. When I said my indicators matched thorn I was incorrect. They did on a weekly but not on a daily. They both have to match for me to get out of my longs and they have not so I too am very cautiously optimistic.
What a way to "jinx" your trade ! Still too close to call , to remain in elections night mood, but the double top formation not here yet. As usual, we will know after the fact.