recouping losses Tons of econ data due this week http://biz.yahoo.com/c/e.html The bar is set really low. A whiff of good news can send the dow up 400 poitns easly. This is really a good time to cover all shorts and puts.
HA...overnight govt intervention is becoming the norm. It seems that you don't really use hard stops but more watch to see how things/sequences go?
I kind of trade zones.....if price trades against me out of the zone I am willing to enter the trade, then I just flatten. If the trade starts to work in the direction I want, then I have zones that I would take profits from already in mind. I look for signals from the methods I use in the zone that I am watching for a price reaction.
I think we have a long ways to go before we see a bottom. This is one bounce on a long fall down to 750 for the ES. The fundamentals have not changed with the Feds actions, they are simply band aids to make the pain feel better TEMPORARILY. Selling rallies, I am.......
I agree with you, but I'm currently long ES & NQ. When I think we've reached the top of the rally I'm going short. So what criteria are you waiting for to enter your short positions??
LOL you are wrong. INTC surging in after hours after beating estimate, which further proves that tech is immune from this fake credit crisis and mental recession, and that the fundamentals of the US economy are as strong now as they were in June 2007.
Covered another 17% of my Rydex 200% Inverse S&P500 position with the DOW trading around -350.........holding the last 50% of my position for possible additional downside movement (want to lock in good profits on half the position as of now).