Quote from rubberbird:
while I appreciate you taking a stand
you gots abit to learn. never gloat during the trading day, and don't root your position down. you may want to re-read your TA book, I guess that diamond reversal reversed in your face.
but keep up the good trades!
Lets look at the sequence of events:
Market churns first 90 minutes resembling a rare diamond pattern.
Potential that this is a dip in the works. More so since last Thursdays bar *could* be a THROWBACK.
Market dips the height of the diamond with opportunity to cover a portion of the position and look for improvement.
Two covers (+0.45%, +0.71%) after diamond reversal and slowly moves up.
Positions that were the worst in the portfolio but showing profit. Positions that were held for over a week and were underwater by over 1.5%.
*** ALL THIS BEFORE the market even made a UBO ***
Recognition that this could be a DIP with potential follow through. A GUT FEEL market COULD go higher. Positions continue to be over 170% biased short and AT RISK. TIME TO COVER THE AGRESSIVE POSITION. Cover position on (+1.11% and 1.63%).
Then, the above post from Rubberbird. Almost seemingly perturbed that someone who remains biased short defied his own short view on the world and covered.
At this point the diamond reversal is up no less than than *0.15%* BEFORE Rubberbird starts to lecture a trader who has already shown profit.
Then a long at $38.02 TO BOX IN A PORTION of the position. QQQQ grinds away to walk up to $38.25 - making the dip call correct. Sell for +0.60% on the long.
Then, a reshort at $38.25 to add to an already short position IN THE MONEY.
Now Rubberbird comes out flaming even more AFTER all of this occurs. His entire week is now one big wasted effort. So much to the point that he results in name calling. Even crazily suggests a kid is managing money. All because he is just angry he didn't cover for profit.
Face it, your pissed off because this week didn't turn out the way you wanted it and you continue to lecture someone who HAS SHOWN PROFIT. BAD MOVE.
THE RIGHT CALLS WERE MADE GIVEN THE AMOUNT OF EXPOSURE AND EVENTS THAT LED UP TO TODAY.
Have a good weekend.
i will try to be more specific. I am not following this thread for the opportunity to heckle someone if it fails, but to maybe learn something if the strategy works for the person.