Discussion in 'Trading' started by Port1385, Nov 24, 2008.
Time to get back into ole faves like RVBD, RDWR, RHT, CTXS and VMW.
Whatever happened to this sage advice?
Just shorted the ES at 842, the next wave down begins now
This is Port 1385 and ET ... that should explain everything.
You didnt read the end where I had a trailing stop set and exited the position at 830. Shorted ES at 842 then covered at 830. I shorted again at 860 where the trend line lay. I was going to post this, but they moved the original thread to chit chat before I could and then I just gave up on the thread.
Look at my chart.
The next wave on the ES begins now unless it can get above that trend line. It doesnt matter, I let a trailing stop take me out of my positions. I dont pull the trigger myself.
You don't think it's just Thanksgiving BS like Oscar was talking about in his last video (he had a new one on Sunday night)? He was also thinking there was some bad news lurking around the corner, though, too, and instead we had sort-of good news, though.
There is the reason the ES stopped where it did today. Now it has two choices, to rebound off that line or go through it. Simple enough. Im short the ES for now until we can figure out which way it will go. Short side has been working since 2007 so I'll continue shorting the rallies with trailing stops. Seems to work for now.
On another note, Im looking at the above stocks I mentioned. VMW and RVBD and the rest of them are trading at a small fraction what they did last year. I think they are nearing the bottom.
Im expecting the ES to take its dump fairly soon, but then in the early bull cycle that will be created after the big dump I will be looking to go long small/mid cap growth tech. VMW and RVBD are perfect examples. There is a certain trend line with those too...
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