2 replies to this topic

[IndexTrader]

First, a summary of my trade. I'm short from 1432 and 1435, after taking a 12 point profit on one piece of the short. If I put this all together, I have an adjusted price on my short of 1439.50. (1433.50 avg plus 6 point profit taken). I'm going to put a hard stop at 1464.50. That's a 25 point hit if we trade there. The stop will only be in during RTH, not overnight trading. Based on what I'm looking at, I'm looking for a top for all the reasons I've mentioned in the past. This makes me more willing to take a bigger risk. Although, in hindsight, I would have preferred to have managed my trade differently. Depending on price action from here, I may adjust the stop downward, but I will not be raising the stop. IT

[hiker]

thanks for the update IT

fyi -

http://forums.techni...618?forum=21252

[OEXCHAOS]

I'm about with you, IT. I'm just not liking the way sentiment is shifting. It's implying that weakness may be short-lived. Of course, they way it's acting, we might get MORE bullish as price declines. In any case, with the breadth and price action I have to have a hard stop on shorts, especially since our model added yesterday (at about these levels). Mark