Also...you don't have to follow these rule exactly. Here are two variations. You could wait to short below the pivot low (38.40) which would give you further confirmation of a move downward. Or, you could short any rally into the 40 area if you believe this is a crucial resistance area.....
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Short against the trend?
- Thread starter billpritjr
- Start date
Quote from billpritjr:
well, being a Stan Weinstein student, and also a reader of Bill O'Neil, it has been pounded into my small brain that the overall trend is hard to fight.
more comments wanted
I often short when the market is up intra-day. Good days are when the Dow is up 80, 90 or 100 points. You can pretty much count on a pullback, even if just a small one. I typically short the SPY. And on weak days I'll reverse my thinking and go long after a decent intra-day decline.
i'm playing shorts only. in fact my system perform better in bull years, since there is simply more trades. so-looks like i'm almost always against trend(but almost always on MM side on open) and doing ok. moves down-much faster than rise-you can build good swing system on it. my backtests reports can be found somewhere on ET.Quote from billpritjr:
Curious how many of you short even tho the overall market is up?
Quote from T-REX:
FUTURESFUTURESFUTURES!
short with the ES and you wont have that problem.
Nonsense....
I have been Short the following:
SNDK from 79 ..closed at 55
JBLU from 70
ERTS from 101
PNRA from 46
NTES from 70
SINA from 43
AMZN from 58
KLAC from 60
These are all over-owned and over loved..PM for details.
Best,
David
Since we are talking some specific stocks......all of these look like good shorts in my book
CC - Sell Stop at 9.85
TSCO - Sell Stop at 36.05
ADVP - Sell Stop at 49.85
all recently coming off new highs and breaking 50-day EMA on high volume, and have heavy institutional ownership
note: TSCO is hugging 50-day EMA, once it gets some downward pressure this one is gone
these represent my opinions only of course
CC - Sell Stop at 9.85
TSCO - Sell Stop at 36.05
ADVP - Sell Stop at 49.85
all recently coming off new highs and breaking 50-day EMA on high volume, and have heavy institutional ownership
note: TSCO is hugging 50-day EMA, once it gets some downward pressure this one is gone
these represent my opinions only of course