marketsurfer -- I am new to this forum and I have read some of your posts on several threads. I congratulate you on some very interesting and successful trades. I do not understand this particular trade and I was wondering what price driver was the impetus for this short position. I have listened to PHD's and "highly competent authorities" vigorously and vociferously debate opposing sides of the same argument while basing their positions on the same Fundamentals or Technical Analysis but they never explain at least to my satisfaction the impetus for the move in either direction. If nothing else it proves that the same information can have different meaning to different people, or even different meanings to the same person at different times. According to my thesis the time to short JCP was on 9/10/12 at $28.70. I am curious as to why your expectation was premature. I say premature because I believe you will eventually be correct with JCP. That is out of respect for your prowess as a trader. I do not have any knowledge of your price driver system, but from my observations I would venture to guess that the aggregate volume was the driver for your short position. Was there something else in addition to aggregate volume. BTW -- Kudos for posting this trade in the public forum so that it can be seen by all and judged by all.
Holding here short-- stops @ 13215 fully expecting a big wave down here surf <i> follow on twitter @marketsurfer</i>
Usually your gloating means you're gonna get stopped out. Maybe you should take your paper trade profit here. At least you can then gloat until next week about being "right."
Surf - you watching my posts in the Metals Futures ? Copper is really rocking now. Huge tug of war between bulls who are high on China and US housing vs. bears who are confident a weak Europe and a slowing US economy will bring it down. Copper went from 3.80 to 3.50 in 2 weeks ! Now there's a bounce which could persist thru the election period. It's a great short after that.