3 replies to this topic

[viccarter]

Short term on the 45 in or 60. The criminals make careers out of fading them. 8 of 10 will resolve up not down and the 2 that go down will near break you if you buy them wrong. Of course we are still in a nosebleed area, but don't be surprised at a gap and feel good, although I certainly won't be buying it. A 2morrow that closes 10 handles higher would not surprise me for RUT, if so I will put longs daytrade in 2morrow, always keeping partial shorts on though.

[SemiBizz]

They "Top Ticked" the RUT, closing down just a penny from the high.. Up 2 pts... Zzzzzzz I am so bored here. I need a little higher to set up the odds.

[CLK]

The futures pattern is a mirror image V recovery so far, this pattern usually completes. I don't like tops that form on news or Fed speak, they usually don't last long. I bailed on my 401k anyway though as IWM gave me a sell, will it be one brick or more I have no idea. DOW 14,800 is still a possibility but I'm not counting on it, staying with my hedged position for awhile. My DOW chart has not printed a sell, that is why I don't like frontrunning, too many losses from false starts, this top worked if you caught it, but too many drawdowns would have happened before this.

Edited by CLK, 23 May 2013 - 04:20 PM.

[andr99]

I don't like tops that form on news or Fed speak, they usually don't last long.

same reason of concern I had this morning which made me think a lot........but really I can' t see this market higher now