please dont pollute our conversation hedgefundturder. I think we are going to all time highs again in the next year or 2 actually so stfu. but not before another large wave of selling. which i am going to trade also. go away plz.
"The time to short the markets is when there is euphoria or when there is really bad news, but that isn't the case now which is why the markets will keep going higher." Objectively trying to draw bullish conclusions while in a downtrend (trendlines and more specifically a vertically sloping 200 MA) is typically futile. I get the feeling a lot of people think we've seen the bottom, but the charts suggest there will be another move down. If I were subjective, then I guess I would still be long from the top and saying this is a temporary setup, but there is more damage in these charts than can be fixed in a one potential Inverted H&S Base. Although this move up has been strong, objectively it could collapse at anytime given the bases we are moving up from. Ask yourself.....are the charts showing a BOUNCE or is the move coming from an objective / measurable bullish consolidation? In other words, you want to take shorts when charts are bouncing back to resistance from oversold conditions or after having made an extended move down or have broken down from an objective pattern and merely having a snap-back rally to resistance.....a mouth full but you get the point. T http://actionpointsta.blogspot.com/
The next two weeks will put your theory to the test. The time is now. AAII investment survey shows extreme optimism. $SPX is now above 1400 and basing. My idea is that we get one last huge upside move this week, get everyone saying the bull market is back, then bam another shoe drops and we see a sell off into June/July.
well non linear it is playing out as you expected so far. i exited my short at 1428 for a 5 point loss on 2 contracts. as i said i was willing to take this stop out as i was not certain we would break to 1450 before the next downleg. hopefully today is a big parabolic up day and if we close at 1450ish i will be shorting at close. stop will be 1455. target will be 1300-1320. what about you non linear?