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Exited entire position @ $23.26.

Obviously, I got stopped out today. But this feels very much like a bull trap. The price action sucks since taking out my stop loss. If we do not close above 771.87 then bias is still down.

All of this has been known for at least a week or 2. It is already factored into the price yet it still has trouble breaking above the downtrendline. Some damage to my thesis of AMZN falling was done today by breaking above $774.39 even if momentarily. Although I expected a slight rebound...

Honestly, Zzzz1, a better way to have played the banking stocks prior to the election was to protect a position with options which you are more familiar with than I am. However, I am not an expert on options so currently I dont use them in my trading. I am posting this in the interest of...

I see it. A bit higher than I would like but all my signals still say SHORT. Will keep $778.53 as my line in the sand. I will either be stopped out or will be proven correct. That's what trading is all about. Staying with the trade until a point at which I know I am wrong.

In the interest of a healthy discussion I will post why this trade from a TA perspective was a rather low risk high reward trade and NOT a coin flip trade. I will only use support/resistance lines and price chart patterns and NO indicators to show my thoughts on this trade and why I took it...

True. Even something as elementary as a MA crossover system would have had you LONG on Bank stocks and Materials way before the election. Example BAC chart. You can also see a string of higher highs and higher lows long before November.

Been rethinking. I think price could be very volatile soon and do not want to get whipsawed out. Will keep original plan when I started this trade and keep my stop at $778.53 but still plan to add to Position if I get another sell signal.

You do realize that Copper and Nickel have been in a bear market for quite some time right? They have gone down while the market has gone up so your premise that the metals go down so will the indices is not quite accurate. The charts below are 20 year charts

Is this a statement or a question on how to manage the trade? I looked at what you say but to me it's helpful to see the 3 time frames separated by a factor of 5. So 240, 50, 10 min. Also post those charts with most of the UP trend channel visible so that we can see the changes in MACD on lower...

I do not fit this description but this thread is useless without pics...:sneaky:

Just for giggles I looked at some fundamental info on AMZN. I was floored when I saw their margin on every sale is 0.3%. But my reasons for shorting remain for TA reasons. Vanzandt I am not sure we will have a Black Swan event but if we do well that is what stop losses are for. Also realize...

Go back and re-read my posts about this. I never responded “angrily”. If you think somehow your words here on a forum can somehow unnerve me and make me all upset you give yourself WAAY too much credit. When someone responds and comments made imply those that use TA are foolish and all losers I...

I am always learning. Never stops. As far as the "dealing with it" because I get agitated by someone who makes a derogatory comment about TA. I can control my emotions and I am dealing with it quite well by telling the guy that makes the derogatory comment that maybe he should consider there...

Many ways to skin a cat,.... Icahn by the way is a longer term trader not the average guy here on ET. But just to be fair,...some of us that believe in the voodoo of TA and those indicators you make fun of were ALREADY positioned in stocks that soared after the election and capitalized on that...

I am currently Bearish on AMZN and said above that I see sell signals but I didnt say I see overwhelming SHORT signals. Sell to me just means take profits and raise cash for reloading. Right now I have one SHORT and one LONG position and I am otherwise in CASH. Sorry but I dont see us going...

This is most DEFINITELY NOT "fear of being long". I trade what I see and as the trade changes I change. Time will tell if I am right..... I have learned to check my emotions. Anyone that has read any of my prior posts/threads in the last several months would see I have been a raging BULL and...

Just to update where we stand. There was no huge explosive move today but I think it is still probable soon. Despite the trend line break we have held a support area around $755 (horizontal red line) BUT,...we are forming a Head and Shoulders TOP at this very right edge of the MAJOR rising trend...

TA is like predicting the weather based on tools and indicators of wind speed, barometric pressure, etc. However, what you are describing to predict the direction of the move and strength of the move based on general overall market sentiment is kind of like predicting the weather in Florida...

Also you may be happy to know I am seeing more sell signals than buy signals in the market.