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Flushing off longs to turn short here


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#1 porsche911sg

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Posted 02 September 2010 - 10:11 AM

technical picture. Hugely over bought. Highest tick in the previous day. It could go for another two more day or so but i will add to position. Risk reward is good here. The internals(ya know what i mean i belive i do not need to rechart here is very similar to The last few topping process around 50 ma) es sold at 1086(sep) i did some dec contracts instead. At this junction i can stop out at minimial losses.
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 Islander

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Posted 02 September 2010 - 04:01 PM

The SPY volume today was insignificant compared to the swing points volume (less than60% lose of energy). I will wait for the number tomorrow before going short with ETFs expecting a long ride down to 980 for first stop, but generally down. I am long bonds from this level expecting 143 as a possible top. I sold gold today and will short it in the next week. Keeping silver for a while, but I have a core position I never sell. Caution is due. Asia is behaving strangely, Shanghai seems to want to go higher, but no future in its rally. Must be the dog days of whatever. Islander

#3 porsche911sg

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Posted 02 September 2010 - 07:12 PM

The SPY volume today was insignificant compared to the swing points volume (less than60% lose of energy). I will wait for the number tomorrow before going short with ETFs expecting a long ride down to 980 for first stop, but generally down.

I am long bonds from this level expecting 143 as a possible top.

I sold gold today and will short it in the next week. Keeping silver for a while, but I have a core position I never sell.

Caution is due. Asia is behaving strangely, Shanghai seems to want to go higher, but no future in its rally.

Must be the dog days of whatever.


Islander

Wow 980 is lovely but it may not come so fast.... yea i been clinging to gold for years it been close to ten years and i am not selling i think we see silver on a new record it's an unsung hero and many production require silver.
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!