I took back my '12 kind! I will probably resell on the next spike. By your tone, I see you were hoping I was "STILL SHORT".
Ebo, i'm not that sadistic. I said "still short" because there was a down move yesterday which allowed perhaps for some profit taking plus the action this morning which didn't bode too well for the short side after 8:00am CST. So I was hopin' you made some money.
Anyone still short? Heard a bank sold a bunch of 10 yr 110 puts in the pit that help us push through those 18.5s.
Looking good Ebo-- double top and a close under 111 18/32 should bring in a lot of selling from longer term traders when the market reopens, methinks. Once again a volatile day-- down, up, and all the way down again-- a great market to trade but also odd behavior for this market.
As of right now both my long and short setups have the green light, but i'm going with the short side for reasons previously stated. I'm going nite-nite with sell orders at 14 and 16, hard stop in at 17. If the market drops without me in the overnight i'll be looking to short a lower high as long as the price is over 11. If it's dribbling above 14 after 7:30 I will just close it out. If I my stop is hit i'll be looking to go long from 10-13. Pete
Joy, turned right at my stop. Plus, the 6:45 ish long entry was a little early for me. Makes up for last week. Anyway, the fact that it made it up to 17 has meaning for me, that a down day is now much less likely. So I'll be looking for a another long entry 10-13 to come along per the plan.