Time to start looking at shorting transports??

lilduckling · Nov 18, 2005

well... i was wrong about the transports, and im .50 from getting stopped out of my YELL for a 1.16 pt loss.

darn!

lilduckling · Dec 5, 2005

Quote from lilduckling:

I have no idea wether YELL is over valued or not. Thats not how i trade. All i know is that today the transportation index had a bearish red candle that pierced deeply into the prior days bar. That in itself is not enough for me to short...but the $TRAN & $TRANQ index have had a huge run up in a very short time. They are extended from the 20ma on the daily charts.... a Fib. retracement to at least 38% (which would take it to the area of minor support from Nov 3 -6) is very likely after such a steep incline. But also as i look at crude oil ...its now beginning to find support here from July and most likely will have a minor bounce back up.....which in turn would take transports down. YELL has been underperforming the transports. So after todays action im short YELL. YELL also up against major suppy area on the weekly chart .
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Do i get any credit for this call?

lilduckling · Dec 5, 2005

Guess not...
but anyways im still short YELL.....up 3.34 pts so far

Perseus · Dec 5, 2005

why do you require 'credit'? isn't making cash enough?

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Time to start looking at shorting transports??

lilduckling

lilduckling

lilduckling

Perseus