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QQQ at 89.00: models are telling me to reduce by taking profits. Draw down less than 0.05. Profit +84 cents. RR>=+17.

My models on short side today: Minus QQQ @ 89.84

I agree with your observation, but what is meant by longs are the people who are waiting for a retreat or a breakout to buy new or add to earlier buys. As for those who were longs, I view them as sure future bears because they would have to sell to take a profit or a loss. I believe that the...

With the exception of myself and probably few others around here, majority people were bullish. How could lack of buyers be the reason?

Today has been a great market to play the short side of stocks. I played short side of FB till 78.20 in AM, then re-entered at 69 area. It is now back down to 68.52. Also trading short side of yahoo this PM. It is sliding nicely. I try to trade what my models tell me. EDIT: in 20 minutes after...

Since you are bullish, I conclude it is another top. To keep track of the top: SPY at 187, and QQQ at 91.

Are you sure? I am thinking the opposite.

How is your lines of support doing? It is now at 68.11. The hindsighters might at a point in time start drawing lines of' resistance" way below 71.71-X, which should happen after they books the losses on their longs bought at the top.

It is down from 71.ish to 68.ish. Nice profits! The stupids follow the stupid got nailed.

My models applied to ES: short @ 1,853.50

Minus SPY @ 185.

Once you draw your first resistance line, you may post it. Until then I assume you have only support lines, the highest of which I assume was somewhere above 70.40.

People seem to have been confused this week, but if the street is cleaned tomorrow then things would become clearer. One of the best cleaning days is Thursday. The other such days are Friday, Monday, Tuesday and Wednesday.

Curious to know what made you think the R:R was not good?

That was the precise top both in time and price-- Worked very nicely! The model that nailed it was the "FTS" model. FTS= Fade ...

Minus QQQ @ 90.79 It appears that I am the only on the short side in this thread today.

Could it be that this morning's bulls are looking for their pockets to be cleaned? I am thinking of a reversal day.

Is this for opening long or covering short?

This could turn to a sell off. I went long side of puts on FB in case the sell off becomes nasty.

50% of a daily range is made in the first 90 minutes. How are you doing in the first 20 minutes? How are doing in the first 90 minutes minus the first 20 minutes? It would be interesting to know how you did so far today, as today is a day that one can know if someone masters price, as it is easy...