DRIFTING down AUG 20

my position: sold short from breach of 50dma. no convincing volume to back up further upward move. willing to hold this position until further evidence of break in the overall downward trend.


thoughts from the Elite?










-momo
 

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Originally posted by momotrdr
my position: sold short from breach of 50dma. no convincing volume to back up further upward move. willing to hold this position until further evidence of break in the overall downward trend.


thoughts from the Elite?
More...

I agree with your thoughts on the 50dma.

Also notice the stoch you've got at the bottom.

I'm short QQQ, MSFT, IBM and a couple others as swing plays here...

best,

-triple

----------------

"real eyes see real lies"
 
this thread, and all the bearishness that prevails after 1 day's down action. As long as I see so many suckers jumping onto the bear bandwagon, with just a minor sell-off, I KNOW we're headed higher.

Thanks to elitetreader, and the masses here for giving me one HECK of a contrary indicator!!

Vinny
 
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