A few reasons why I am shorting this bounce

I think its better to start threads involving market direction and discuss different opinions and analysis. That was the point of this thread. I like to hear what others are doing and hear their opinons in a constructive manner.

Rather than to start threads revealing a secret guru trading technique or how to find the cheapest commisions.. or bashing brokers.


--MIKE
 
Quote from waggie945:

Who are you kidding?

Riskarb, Nolan Vinny, and everyone else know that you used to be James Stock and have now come back to ET with yet another alias.

:D
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Can't you ever speak for YOURSELF? You don't need to use others names to promote your agenda. You're doing the same thing to Trend Fader that you did to JS. You hate when others are right. You have a major problem, and you should seek help.

BTW, i'd say 80% of ET saw you as being humiliated by JS. There, I can throw around other names as well.
 
Quote from Trend Fader:

I think its better to start threads involving market direction and discuss different opinions and analysis. That was the point of this thread. I like to hear what others are doing and hear their opinons in a constructive manner.

Rather than to start threads revealing a secret guru trading technique or how to find the cheapest commisions.. or bashing brokers.


--MIKE
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Mike, ignore waggie, don't let him spoil your thread. That's his main agenda: you made a good call, he hates it, he's now out to wreck the thread. Don't fall for it.

Good call, and good luck. I've appointed myself senior deputy and will do all I can to prevent self-appointed sheriffs from wrecking threads out of jealousy.
 
Whenever the NDX has had 3 consecutive down weeks, but still traded above the 34-day moving average, the NDX was higher 20 weeks later, 11 out of 13 times!
 
Quote from waggie945:

Whenever the NDX has had 3 consecutive down weeks, but still traded above the 34-day moving average, the NDX was higher 20 weeks later, 11 out of 13 times!
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Nice fact but I am more interested in making money today.

20 weeks later is along time. My time frame is a swing from 2-10 days. Maybe after this selloff we will have a decent buying opportunity. But right now today.. I think the market might test its bottom range.
 
Ok, I will speak for myself . . .

I have no doubt that you are the infamous silly little boy that went by the screename James Stock who told everyone that he believed that selling "naked" calls was a great way to play a market top because it was a way of receiving a good return for a "limited amount of risk."

:D
 
Quote from waggie945:

Tell me . . .

What would be the "bottom of the range" in your opinion in the S&P futures?
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Near the 50ma. If we close strong for the day.. I willl not further scale into my shorts. I think 25% short is enough for right now.
 
"But right now today.. I think the market might test its bottom range."

The 50 Day on the SPH is coming thru at 1131.40

I'm talking about making money today, and not about some general moving average that is 1.5% away.

Today's pivot is at 1150.70
That might provide some resistance in this dull trading day today.
Above that, we have a shot at 1155.00 but I don't really expect much to happen until after Intel comes out with its Mid-Quarter Update and we see the Unemployment Data on Friday morning.
 
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