The S&P has topped !
- Thread starter fly down
- Start date
What is your stop loss on your short position Mr. Fly Down ?
I'm going to suggest we might challenge it right after JP Morgan reports results. There is definately some upside risk coming up late this week for aggressive shorts in this market.
I'm going to suggest we might challenge it right after JP Morgan reports results. There is definately some upside risk coming up late this week for aggressive shorts in this market.
I want to see if the lows can get taken out in successive sessions, and if indeed we are witnessing a series of higher lows.
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BONE, that is the billion dollar question for sure.
I am short the SPY. Started building the position this week.
Beyond Technicals.....there are plenty of Economic Pressures that are in favor for my directional play.
However, this is a 2 to 3 month play unless we just fall apart.
I do not expect a serious move until end of FEB, to the down side. I can see the S&P, in a choppy manner head lower during earnings season but nothing really huge until March/April.
There is one X factor the FED. However, if we do move towards Q3 that may work in my favor as it will signal panic and my create a panic sell off.
But the odd of that before March/April are low.
FED is no longer a positive .......any move by the FED is a negitive going into 2011.
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BONE, that is the billion dollar question for sure.
I am short the SPY. Started building the position this week.
Beyond Technicals.....there are plenty of Economic Pressures that are in favor for my directional play.
However, this is a 2 to 3 month play unless we just fall apart.
I do not expect a serious move until end of FEB, to the down side. I can see the S&P, in a choppy manner head lower during earnings season but nothing really huge until March/April.
There is one X factor the FED. However, if we do move towards Q3 that may work in my favor as it will signal panic and my create a panic sell off.
But the odd of that before March/April are low.
FED is no longer a positive .......any move by the FED is a negitive going into 2011.
Nobody wants to buy "THE HIGH". They would much rather sell "the high".
As I always tell my clients - "always, and I mean always, look for the path of pain". Everybody wants to pay homage to the almighty trend, but very very few people actually practice the art. Even when I trade at higher frequencies, I am always entering a fresh position on the same side as the longer term trend. New clients are shocked by the fact that I can trade 3,000 Nymex calendar spread round turns per day - whether I hold them for 3 seconds, 3 minutes, or 3 hours, on of all things, a 360 minute timeframe chart.
As I always tell my clients - "always, and I mean always, look for the path of pain". Everybody wants to pay homage to the almighty trend, but very very few people actually practice the art. Even when I trade at higher frequencies, I am always entering a fresh position on the same side as the longer term trend. New clients are shocked by the fact that I can trade 3,000 Nymex calendar spread round turns per day - whether I hold them for 3 seconds, 3 minutes, or 3 hours, on of all things, a 360 minute timeframe chart.