NQ short
Started by
S.I.M.O.N.
, Jan 11 2007 10:57 AM
5 replies to this topic
#1
Posted 11 January 2007 - 10:57 AM
@1845, plan to add more at 1852, this is a longer timeframe trade based on possible bull trap in ndx, stop for right now is 1870, looking for 1800 or lower, possible all the way back down to 1760 on nq's.
Also A=C=66 at 1852 so i think ndx is almost done here.
*previously known as pnfwave
#2
Posted 11 January 2007 - 11:04 AM
Good plan. I also saw VXN close its gap from five days back. I have been waiting for it, because VXN always closes past gaps.
My expected course of action is NDX chop around here for a while, while VXN crashes further, and then NDX turn down.
It is not the doing that is difficult, but the knowing
It's the illiquidity, stupid !
It's the illiquidity, stupid !
#3
Posted 11 January 2007 - 11:15 AM
Good plan. I also saw VXN close its gap from five days back. I have been waiting for it, because VXN always closes past gaps.
My expected course of action is NDX chop around here for a while, while VXN crashes further, and then NDX turn down.
Looking for big volume today to confirm early bears throwing in the towel, chop for a few days to rope in the late bulls then , hopefully there's not too much "agreement" on this.
*previously known as pnfwave
#4
Posted 11 January 2007 - 11:49 AM
i shorted 56......at least the stop is easy to figure.
#5
Posted 11 January 2007 - 11:57 AM
Would you call today's move , the third drive in the "three drives to a top"?i shorted 56......at least the stop is easy to figure.
*previously known as pnfwave
#6
Posted 11 January 2007 - 12:06 PM
you could I guess...especially with continued rsi divergence.......I'm also going on this...
http://stockcharts.com/c-sc/sc?s=$NDX&p=W&yr=4&mn=2&dy=0&i=p87251621555&a=88389666&r=2638.png
http://stockcharts.com/c-sc/sc?s=$NDX&p=W&yr=4&mn=2&dy=0&i=p87251621555&a=88389666&r=2638.png