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Key level for me is if it can take out 5780 and stay below it. If it fails to do that early next week I'm out, at whatever P/L I end up with.

I'm holding my short tech stocks through the weekend. It could definitely turn in to a buy the dip to new highs, but right now I have levels being taken out that make me want to be short.

Yeah I am a short term trader too, just not as fast as max. I usually hold 1 to 5 days.

Daal I love your focus on convexity lately. I agree with you and I am looking ahead to what I think might pay off big in the future. One I am looking at in the crypto space is Radix. I know there are tons of stupid alt coins but if this one delivers what it claims to it will be a game...

VanZandt I am with you now. The political situation in the US is going to do this market in. Now that it lines up with my TA stuff I'm positioned short tech and tmst. It looks like we are getting ready for the next push down here. BTW I know my timeframe/style is not the same as most...

Here is SNAP.

Here is my fastest view, I use it when I'm off from work during the trading day and want to try a daytrade. If a stock my other stuff says I should trade is on the right side of the daily pivot, I enter on a pullback to the MA. Yesterday I got home near the close and got short TMST on that...

Hmm... Could work out. It's pretty reasonable to expect a pullback or a buy the dip attempt. I'm short some techs and holding for now but I trade longer timeframe than you. Gl.

I think you nailed the low.

It's hard to look away from a train wreck.

If you really want to know the answer you need to crunch data. I'm not saying one can't make money by letting trades run, I'm saying you need skill for it to be profitable. Or some sort of statistic like you know that the opening range will contain the high or low x pct of the time, and it...

One trade is meaningless. The profit from today will dwindle away if you hold out for runners every trade. I've tested a lot of different exit strategies over a very large sample size, pretty much everything you hear about in the usual places. All I found was a shifting of the distribution of...

I was long tech today, flipped short as my levels were taken out last couple hours. Overall lost small today. If this has follow through tomorrow I'm already short. Buy the dip may still be in effect...

A weekly view of the NQ. This market really hasn't been tested this year, unless you count that little selling wick in beginning of July. SNAP relative performance today was interesting.

Its interesting, if this selloff is partially due to the Cohn chatter...I was just reading a few days ago that at one he said he thinks the feds should raise rates overnight to 3%. Talk about crashing the markets if he became fed chairman lol. Nice call Vanzandt, what kind of positions are you...

Also got short TMST today, weak stock, weak sector, just taking out my monthly S/R resistance lines.

Took my losses on my long tech stuff, and profit on GOLD. Short retail stock saved me today. I might be chasing momentum but got short some tech stocks today, if NQ can take out the 5760 low we are solidly in bear territory for me for swing trades. EDIT got short the weak stocks I have in the...

Here is my view of NQ right now. We are in the middle of the monthly opening range (dashed blue lines) and above a rolling pivot I use, so that gives me a bullish bias. Ratio of buys to sells using some proprietary stuff I wrote shows tech and semis strong and getting stronger. My biggest...

I don't disagree with you, but according to my trading methodology this market and especially the nasdaq is a clear buy right now. I like to generally have a long and short position, sector based, and for me it would be long tech short retail right now. I'm getting ready to head overseas for a...