You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
S&P 500 Index Analysis
- Thread starter DrChen
- Start date
Sept. 24, 2010
Analysis:
Yesterday's Analysis predicted that "unless the market can immediately reverse itself tomorrow to close above 1,131, the Bears will be emboldened and become very aggressive in attempts to push the market below 1,088." Today the Bears did not give the Bulls that opportunity to be emboldened, and the market recovered the previous three days' cumulative losses to close higher. This week has seen an epic battle between the Bulls and the Bears, the the Bulls had an upper hand. Looking ahead to next week, the market will find positive news to embrace and continue to rise.
Strategy:
Exit short position
Analysis:
Yesterday's Analysis predicted that "unless the market can immediately reverse itself tomorrow to close above 1,131, the Bears will be emboldened and become very aggressive in attempts to push the market below 1,088." Today the Bears did not give the Bulls that opportunity to be emboldened, and the market recovered the previous three days' cumulative losses to close higher. This week has seen an epic battle between the Bulls and the Bears, the the Bulls had an upper hand. Looking ahead to next week, the market will find positive news to embrace and continue to rise.
Strategy:
Exit short position
Quote from joe4422:
Wow, cause I just got short near the close on Friday. This is a major resistance area, it's worth a small risk on the table.
Joe - not sure what you mean. I was refering to Dr. Chen's exit. You might want to check out my take on your comment that I posted earlier on my tread ( taken nothing away from Dr. Chen's post or the quality thereof). It's just to lengthy and inappropriate to post in his area.
Best of Trading
I wasn't responding to you, but to Chen. He said that he just took a huge loss on a short, but I said, wow, because I just went short because on Friday we closed at major resistance.
I'm just surprised that he would sit through such a huge draw down, and then take the loss right at resistance.
I'm just surprised that he would sit through such a huge draw down, and then take the loss right at resistance.
businessstaxes
Guest
the market is as rigged as penny stocks.
the market only goes up after longs has sold at loss.
the market only goes down after all the shorts have sold at loss.
it's call shakeout. shakedown..traders are like herds of cow whipped by market makers who run stops. as their business model
there is no reistance on friday at all.
the market only goes up after longs has sold at loss.
the market only goes down after all the shorts have sold at loss.
it's call shakeout. shakedown..traders are like herds of cow whipped by market makers who run stops. as their business model
there is no reistance on friday at all.
Quote from joe4422:
I wasn't responding to you, but to Chen. He said that he just took a huge loss on a short, but I said, wow, because I just went short because on Friday we closed at major resistance.
I'm just surprised that he would sit through such a huge draw down, and then take the loss right at resistance.