Discussion in 'Trading' started by crgarcia, Mar 11, 2008.
This looks like a failed rally, so far.
lol, CNBC makes me laugh some times...the second we get a dead cat bounce they are like "OHHHHH LOOKS LIKE THE BULLS ARE IN CONTROL TODAY!!!!!"
I would have no problem getting short today.
It would be prudent to hold shorts for 2 or 3 days at most, Fed meeting is just around the corner.
You should have shorted the open. that was the trade. Nice moves down for many stocks from the open.
i would also be a little wary depending on your time frame.
if we get a 50 pt cut, then a small bounce. a 75 and we get a 200 pt rally.
but i would sell into either.
but if you are short term, just be prudent of this cut.
just my .02
I personally think there is a big gaping hole of no bids in the EP from 1275 down to 1200. If we get low enough and blow through that resistance, Peace out US stock market!
Anyone shorting the close?
I was thinking to do the same, but no way. This will keep going for at least another day.
The fed didn't even cut today. When he does cut expect another 3% rally. NO way you want to be short.
Part of today's run up is the pricing in of next week's rate cut.
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