Transports / IYT Just About There

I just added to the Transports/IYT short Trade Idea (Longer Term Position Trade) IYT / Transports Tuesday, I only have a little room to add so I'm ok with where my position is at and being patient, but I'm very happy and relaxed that I have the majority of the position in place, as a position I like, I wouldn't feel very comfortable right now just being patient to add the entire position over the next few days.

Transports (Dow-20 /IYT) are looking really bad in the area and it's a nice bit of price strength today, I've been pretty close to using it to wrap up the position, but I figured for the sake of members I'd try to stay patient and look for the very best place to add the final part of the position which has held up well considering a phased in trade, under 2% drawdown. To keep that in perspective, as a position trade I'm not looking for a move to Dow-20 $8500, I'm looking for sub-$7000.

 There's about 1.5% draw down which is more than acceptable, again it's trying to keep these shorter term signals and shorter term draw down in perspective with the big picture trade.

 This move today, intraday looks horrible, no confirmation on the fastest 1 min chart.

None on the 2 min chart.

The 3 min is leading negative

As id the 5 min, that tells me that this is the kind of move I want to use to open or fill out a Transports short.

Since I only have a small position left to add, I'll try to be as patient as possible, but I don't think I could be interested in this trade and not have at least half the position on by now.

The 10 min intermediate chart.

And the longer term underlying trend and reason I want to be in transports short.