Tabby wrote:Bull bear52,
How about buying inverse etfs?
I still hold on my half lot short etfs, and new short SSO today. when SRS stay green this morning I know something is not right but then again so long SPY trade under its 5dma it's down trend to me. sell the rally is intact.
later, hungry now.
Last edited by BullBear52x on Fri May 06, 2011 1:06 pm, edited 1 time in total.
My comments are for entertainment/educational purpose only. NOT a trade advice.
breakdown then back test, critical time, bulls must show strength here otherwise the patten will be bearish.
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I like AGQ.
It hits lower BB and when STO, RSI are the lowest point, it goes up by $2-$3 and then I sell it. I am using 1 min chart. It is basic, it works for me.
The NTSI closed dn at 655.18. Today may be a blip up move but it still has more dn togo befor turning up. Also it has been in its low range for long time .This not showing a strong mkt. Could turn dn any time. Watch, wait and see.
too bad, breakout pullback is a very reliable trading setup.
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Cobra wrote:too bad, breakout pullback is a very reliable trading setup.
Cobra,
After today's news and several trading set-ups, what is your short-term and intermediate-term targets?
Intermediate-term is still up until proven wrong.
short-term I still think that yesterday lows will be revisited then we'll see.
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just an update to keep you guys awake. I was mostly sleepy those days. Channel I see.
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I closed the shorts a bit too early at 1344. This chart would have given the correct support level. I wanted to leave and go for a jog, but I keep on staring at the screen.... As to what happens on Monday - it's a game of Roulette , so I'm 100% cash now.
so far the good news for bulls is UUP hitting the trend line resistance now.
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