To cover or not to cover
- Thread starter Bowgett
- Start date
It depends.
If I were still holding onto the GS puts I had last week, I would cover first thing in the morning.
However, I also have short positions in downtrending stocks that will probably continue falling even if a rally occurs. I will hold these.
It depends on your overall view of the market, esp. in the long term.
If I were still holding onto the GS puts I had last week, I would cover first thing in the morning.
However, I also have short positions in downtrending stocks that will probably continue falling even if a rally occurs. I will hold these.
It depends on your overall view of the market, esp. in the long term.
In my opinion it depends on your time frame.
When I take a long term view (12/24 months) of the DJI, HSI, and other markets as a discretionary trader, this is nothing more than a signal to get out and watch from the sidelines.
There is nothing here that tells me short the market or begin buying again.
If I take an extremely long term view (5+yrs) this is nothing more than a possible red bar after a series of green bars. Nothing more.
Look, the DJI made a HL in 2003, we broke the 2000 resistance level sometime in Oct 2006 with minimal resistance and it's now time to take some profit. Where it goes from here I don't know. But this isn't the doom and gloom/Christ returns level.....yet. To me that would be breaking the 7-8K level.
This is just my opinion and I'm sure some with much more experience than I would have a completely different view. As a discretionary trader that looks at price patterns and longer term s/r level, I'd be covering my position but not shorting.
When I take a long term view (12/24 months) of the DJI, HSI, and other markets as a discretionary trader, this is nothing more than a signal to get out and watch from the sidelines.
There is nothing here that tells me short the market or begin buying again.
If I take an extremely long term view (5+yrs) this is nothing more than a possible red bar after a series of green bars. Nothing more.
Look, the DJI made a HL in 2003, we broke the 2000 resistance level sometime in Oct 2006 with minimal resistance and it's now time to take some profit. Where it goes from here I don't know. But this isn't the doom and gloom/Christ returns level.....yet. To me that would be breaking the 7-8K level.
This is just my opinion and I'm sure some with much more experience than I would have a completely different view. As a discretionary trader that looks at price patterns and longer term s/r level, I'd be covering my position but not shorting.
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Agree with MTok also;
depends on your time frame.
Like on ES derivative, covered because on that time frame;
short term short profit was melting , so helped fuel the mini-rally by short covering.
NasdaQQQ is still mostly down premarket, but above 200dma;
and again nicely below 50 day moving average.
