uempel wrote:Waiting for SPX at 1228, but now it has tanked below DMA 377 (now at 1214) and I'm just watching and hoping there will be another run for a higher high so that I can short
SPX36.png
I have been waiting to add short at 1222. Not looking like it will make it at the moment.
I have to say the short I have on already feels terrible. Mr. Market is turning my intermediate signals green right as he is running into a serious resistance area.
Signals will whipsaw if market rolls over.
So, sticking to plan for now with a stop. Will reassess next week.
uempel wrote:Waiting for SPX at 1228, but now it has tanked below DMA 377 (now at 1214) and I'm just watching and hoping there will be another run for a higher high so that I can short
The attachment SPX36.png is no longer available
I have been waiting to add short at 1222. Not looking like it will make it at the moment.
I have to say the short I have on already feels terrible. Mr. Market is turning my intermediate signals green right as he is running into a serious resistance area.
Signals will whipsaw if market rolls over.
So, sticking to plan for now with a stop. Will reassess next week.
Ain't that always the way? The medium term signals turn green just as it hits resistance. Which to trust?
Given the huge role the Euro is playing in this market, I think the inability of the Euro to close above resistance at 1.39 is also a sign that the downside risks are real next week. Bonds are also rallying as stochastics is moving higher on the 60 min TLT chart after touching the 20 line. These are two good reasons that we may not move higher anytime soon.
i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?
there are several around. optionhouse....
But, as long as you trade options. it's expensive.
need right timing to win in options trade. I used to do, now back to trade stocks/ETF.
i pretty much day trade options, but the commissions on TOS are killing me. anyone know the cheapest/best execution option broker out there?
there are several around. optionhouse....
But, as long as you trade options. it's expensive.
need right timing to win in options trade. I used to do, now back to trade stocks/ETF.
I use zecco trading / optionhouse. both are very cheap. Interactive brokers is also very cheap. Check em out!
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