Tuesday, April 27, 2010
DONT FORGET TO CHECK TRADE GUILD
The article calling the reversal was posted Monday afternoon, it came true almost to a tee using 3C, it's not me -it's my indicator. Check it out.
THIS IS WHAT WE'VE BEEN WAITING FOR
It's time to start loading the truck up, don't be reckless, you may want to initiate positions and add to them on pullbacks (if you didn't already today based on my last post).
I have a lot of ideas, longs, stocks, and ETFs. Again, don't be reckless, stick to the 2% rule, but get that cash to work in the market. Downside moves can be very fast and you don't want to miss them-FEAR is stronger than GREED!
I have a lot of ideas, longs, stocks, and ETFs. Again, don't be reckless, stick to the 2% rule, but get that cash to work in the market. Downside moves can be very fast and you don't want to miss them-FEAR is stronger than GREED!
Bulltrap to be sprung?
A close below 1207.50 area should do it, check the recent shorts. Some other ideas would be ETF's that are Ultrshort or short financials like SKF (long) or FAZ (long). You may also want some market exposure through an ETF like TWM. Right now, I have a lot of shorts on the spread sheet, most will be good plays, even if they have crossed through their stops. A Bull trap usually sees a fast move down, that is why I saw get in there and get broad exposure to the short side, maybe clean up the longs. If we get the close I mentioned, you'll want to have at least 50/50 short/long exposure and maybe even heavier on the short side, although another day of confirmation will allow you time to get up to about a 70/30 ratio.
Tonight, I'll post individual ideas that are new, I want to make sure we get what I think we are going to get before I have you commit capital that may end up being counter trend. There are very few longs I would consider AT THIS MOMENT.
Look for a new Spreadsheet tonight with new ideas. Remember not to make any short position too big, they must conform to the 2% rule/position sizing and I'd enter half of the intended position s close to the close as possible unless the break below the mentioned level comes intraday on heavy volume and the retest of resistance-(1207 area) fails, then intraday trades would make sense, but if the close is not below our level, you'll want to thin them out before the close.
Tonight, I'll post individual ideas that are new, I want to make sure we get what I think we are going to get before I have you commit capital that may end up being counter trend. There are very few longs I would consider AT THIS MOMENT.
Look for a new Spreadsheet tonight with new ideas. Remember not to make any short position too big, they must conform to the 2% rule/position sizing and I'd enter half of the intended position s close to the close as possible unless the break below the mentioned level comes intraday on heavy volume and the retest of resistance-(1207 area) fails, then intraday trades would make sense, but if the close is not below our level, you'll want to thin them out before the close.
