is this the top ???

Reverse head and shoulders on chart has completed.

Warning: Fast Money is doing a segment on shipping tommorrow night and might go bearish on shipping.
 
I guess it was overbought, :(
I sold out at 8.65 it closed at 8.55.
maybe i should have stuck it out but maybe I can get back in after it pulls back? what would anyone suggest as a good indicator of a good time to get back in NM?
 

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Quote from keithtrade:

I guess it was overbought, :(
I sold out at 8.65 it closed at 8.55.
maybe i should have stuck it out but maybe I can get back in after it pulls back? what would anyone suggest as a good indicator of a good time to get back in NM?
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kiethT;
Nice uptrend, nice shallow sell volume,which is another nice part of that uptrend.

Uptrend may well continue, but i closed long SPY position, today because of lower lows, lower highs also.

Actually had planned on shorting QQQQ some more;
but the least likely scenerio happened, kept closing above it's trading range of $45.45. Smaller time frames could have profited,qqq;
but if i ever do trade NM, not likely to ride it/''stick it out'' ,11%+ loss just to see ''if'' it bounces @50dma.

NM @50 dma [and above$8.00] has found support in past year;
but i havent looked at that sector lately.


:cool:
 
50dma looks like a nice fit, Im just learning thankyou I wouldnt have looked at that. What would my chances be of shorting this down to 8@50dma?? to risky? sometimes being new, everything seems moves against me:( if I short it it will reach a new high tommorow, if I buy back in tommorow it will fall through resistance:confused:
any words of encouragement :)
 
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