I shorted the 9:30 bar at 2268 for both our models. They very nearly stopped us out for our 5/10 model. In fact, it really felt like they were trying to shake the bears loose today. The swings felt like they were intentionally nervous-making. I could feel the urge to over-snug my stops or just bail.
But I've been at this long enough to know that the easy course is usually the wrong one, especially when the original case for the position was still valid. I held off snugging my stops until we traded well below the 50-hour. We're now short with a 226500 stop. I have no idea if we're going to hit our targets or not. I'm not particularly Bearish and thus far the lower BB is holding, but given the overshoots we've seen over the past couple days, I think I need to stay on plan.
225800 is the target.
Mark