If I am wrong think i have to be be prepared for a lost. of 30% of the contract value.
Anyone adding shorts here?
Started by
porsche911sg
, Nov 16 2009 10:22 AM
33 replies to this topic
#1
porsche911sg
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Posted 16 November 2009 - 10:22 AM
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
#2
fib_1618
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Posted 16 November 2009 - 10:26 AM
Why would you add to an already losing position with breadth plurality at 8:1 to the good, and prices moving to new highs??
Fib
Edited by fib_1618, 16 November 2009 - 10:27 AM.
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#3
porsche911sg
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Posted 16 November 2009 - 10:29 AM
I did that a month ago. I usually average up. Than cover at the end of month. That netted me 50% of the contract vale so if I lose it's going to be BIG as well.Why would you add to an already losing position with breadth plurality at 8:1 to the good, and prices moving to new highs??
Fib
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
#4
Remo
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Posted 16 November 2009 - 10:30 AM
Why would you add to an already losing position with breadth plurality at 8:1 to the good, and prices moving to new highs??
Speaking of breadth, would you consider this "escape velocity"? Or if we reach 10:1.
Thanks in advance!
#5
NAV
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Posted 16 November 2009 - 10:31 AM
Nope. SPX 1102 was my stop which i posted on friday and got taken out today. With 85% adv 15% decl, i am standing aside. If the rally holds till EOD then it's back to buy the dips mode again. We need a failure here to get short again. Fading strength is not my style.
Edited by NAV, 16 November 2009 - 10:35 AM.
#6
espresso
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Posted 16 November 2009 - 10:31 AM
Hi 
,
third 1/4 short here at 1810 ndx, previously 1787 and 1800.
Still on pattern, now needs to fail....
,
third 1/4 short here at 1810 ndx, previously 1787 and 1800.
Still on pattern, now needs to fail....
Spesi FF
#7
Cirrus
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Posted 16 November 2009 - 10:33 AM
Why would you add to an already losing position with breadth plurality at 8:1 to the good, and prices moving to new highs??
Fib
Fib is correct. When you trade agains very lopsided breadth it's almost always a bad idea. I posted some backtested data on here a couple years ago about lopsided breadth sessions. If this type of breadth holds into lunch it is almost always a 'trend' day.
If you want to short you would be better off covering your position and waiting rentry or at least wait to add until the market confirms. We have about an hour or so to go to see if this aciton holds and we could easily establish a trend day.
#8
porsche911sg
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Posted 16 November 2009 - 10:34 AM
Hello Espresso, looks like we are the only ones. I added today 60% short position... well I am now down by $15k USD. I might lose another 15K by tom... I'll stop if get to 50K loses.Hi
third 1/4 short here at 1810 ndx, previously 1787 and 1800.
Still on pattern, now needs to fail....
The market catches almost everyone on the wrong side. We always seem to get fake break out before that huge dump or the hugh dump before the false break down! Trade Safe!
#9
fib_1618
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Posted 16 November 2009 - 10:38 AM
It might be, but you know the drill...we have to break above the declining tops line on the NYSE breadth MCO in order for us to trend higher.Speaking of breadth, would you consider this "escape velocity"? Or if we reach 10:1
Wouldn't it be better to wait for the failure first before confirming the pattern?Still on pattern, now needs to fail....
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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#10
IndexTrader
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Posted 16 November 2009 - 10:39 AM
Nope. SPX 1102 was my stop which i posted on friday and got taken out today. With 85% adv 15% decl, i am standing aside. If the rally holds till EOD then it's back to buy the dips mode again. We need a failure here to get short again. Fading strength is not my style.
I can't imagine that all those divergences you mentioned over the weekend will actually clear themselves up. In that case, how are you going to buy any dip?
IT
