rr, 10603 was the initial entry stop. after profits are attained, i usually follow up with a trailing stop based on technical factors. see the attached chart--- you see the dow approach the yellow line and form a double bottom, then it breaks thru the moving average, as the OBV begins an upward ascent. covered the shorts and then reshorted on the first red bar thru the pink line and am staying short since the pink line was not broken on the next upswing , OBV peaked and dropped and no other technical factors indicated further upside. hopefully this makes sense. short entering friday. surfer
you can see the clear double bottom form right above the yellow support line ( 20 points )--this in and of itself was not enough to close the position--then the index broke thru the SMA and nicked the upper B band--this is when i started considering getting out, i hesitated, then closed the position when the upper bband was nicked again. see it clearly on the chart. short entering tomorrow. surfer
Surf, Yeah I saw that, but had other indicators besides yours working also so I held true to my initital call and stops. rtttrader1 -