Looking on Cobra's chart, there looks to be alot of total volume today. Is this exhaustion?
Flip that coin.
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xfradnex wrote:Looking on Cobra's chart, there looks to be alot of total volume today. Is this exhaustion?
the very first few down days with big volume is not exhaustion. it's just the beginning. after a few more days down if you see volume surge, then it's exhaustion.
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See you guys tmorrow heading intown for food and something different etc..My long swing trades are a little red but I had a little cushin in them so holding to see what tomorrow brings. I see right now we are getting a little bounce. Lets see.
Cobra I re-read your post last night and was curious about this:
Even it breaks down tomorrow, before the Nov 1st lows being taken, officially the trend is still up, so bears still have a long way to go.
If we close here is the short term trend now officially down? Would you say the bears today completed what you called "long way to go" in one day's move?
I am closing my shop early today holding 1/2 shorts over night, expect a bounce but not to go over 123.5, if so.......well a reversal idea will not be a bad guess.
Thanks Cobra and everyone here for great insights, GLTA
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L_T wrote:Cobra I re-read your post last night and was curious about this:
Even it breaks down tomorrow, before the Nov 1st lows being taken, officially the trend is still up, so bears still have a long way to go.
If we close here is the short term trend now officially down? Would you say the bears today completed what you called "long way to go" in one day's move?
still long way to go. officially the trend is still up if close right here.
trading is different however, because you trade EXPECTATION, so you cannot wait until I say, oh, it's officially down. You have to balance the risks.
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BullBear52x wrote:I am closing my shop early today holding 1/2 shorts over night, expect a bounce but not to go over 123.5, if so.......well a reversal idea will not be a bad guess.
Thanks Cobra and everyone here for great insights, GLTA