a 15 handle hit will not bother hin he says........................well from 931 .00 short up to 960.00 STOP is a bit wider than 15 . OHH, i see it was 15 k, my mistake. Still a 15k possible loss for that amount of profit still has issues.
If you really wanted to lay the lumber today following last night's swiss cheese rally, a much better idea was shorting in the low 950s to high 940s. Any self-annointed "guru" worth their salt would have been selling those stone-cold obvious breaks up there.
Is this it? Is this all the reason you have for making this trade? What fundamental or technical reasons of substance do you have for thinking the market is going to reverse trend right here right now?
******Austin P******* Dear ####, aka BestGuruEver, ET has become the ultimate cesspool of failed wannabe traders and losers. It's not really possible for me to care any less about what viewers in there say = feel = do. Congrats on your $40k recent performance. Please link me to your post in ET's P&L 2009 thread showing that blotter. It'd be my honor to gaze upon your performance there. Best Trading Wishes AustinP
That's a slang description for markets going up on thin air... no volume, overnight gaps, final minute program spikes, etc. The overnight rally to critical resistance left holes below it akin to "swiss cheese" support. If they found a reason to keep on pushing higher, it'd be a gap & hold event. Instead, selling pressure hit those supportless holes like a knife thru "swiss cheese". Hence the straight down crush early on.