I am shrt with the dow at 8700. i have a stop if we break the high we just reached. this bail out is all smoke and mirrors because bush 's term ends in a few weeks, tactics of last resort which will only hurt the economy. everyone knows this./
Why you would think that this GAP up this morning is from the auto "bail-out" is beyond me . . . Ever think that it might have something to do with "Triple Witch"?
The OIH is already moving up at a nice tick this morning . . . If oil gets into positive territory, you are going to see a big push up in the energy sector which results in a nice "bid" in the SPX.
i was stopped out with a very minimal loss. i re entered on a break below the previous high of the morning.. i am about to cover the mzz and sds again..i have a nice profit. the market may turn down even more but i cannot get greedy. as i said earlier,i would cover on a break above the morning high which i did;i went a bit higher but my stop protected me.it was a negigable loss. i just made it all back plus a rather nice profit. cannot get greedy on the triple witch.
Just curious, and I mean no disrespect. But why is it when someone makes a call and the call is wrong, they come on later to tell us how they closed and re-entered, and now have a nice profit? But you never see them post the infamous re-entry.
the market did exactly as i thought,broke this mornings open low and went negative. as i said,i covered already and made a profit. moral to the stoty,in the stock market you go with instincts but its a tough road,my plan worked but it tested me by making a new high forcing me to cover .thats the discipline,i had to admit that the plan went off track.. then it quickly reversed and i re established a new trade which was the original one. happened a bit later than expected but it panned out nonetheless. LETS SEE LANDIS MAKE THESE KINDS OF CALLS FOR OUR FRIENDS ON ET ! i may be disliked but i post some of my picks because i actually enjoy helping others by showing them how i trdae. its very disciplined.