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ES Journal - 2012
- Thread starter Buy1Sell2
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Quote from ammo:
i understand perma and if i sold at a bad spot i'll defend it ,but if its strong and i wasn't dumb enough to have sold it, i sit on my hands and wait for a spot,not a good day to insist on being a permabull, a counter trend traders nemesis is the trend day
I'm in no way saying it's a good idea to buy and not be short, but today's RTH is not characteristic of trend at all. Perhaps it will break down and become a double-dist day, but as of now the activity has not been trending, it has been simply balancing. Likelihood is that it will break down and continue to be bearish, but as of now it is simply balanced:
http://screencast.com/t/rkAYqQpj
Quote from ammo:
i understand perma and if i sold at a bad spot i'll defend it ,but if its strong and i wasn't dumb enough to have sold it, i sit on my hands and wait for a spot,not a good day to insist on being a permabull, counter trend traders nemesis is the trend day
i used to get so frustrated being countertrend (short) on the way up, and then buying on days like today. great point
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