Trending or bounce ?

Maybe I'll miss the whole move now. So you want to hold short into Friday and over the weekend ?

You don't want to hold short overnight. (FF)

I am with Mike, no shorting now if you are a trader. VST/ hourly rally should be underway but should be contained within ST/ daily chart sell.

Selecto, may I ask why you say this sir? Im bias though I won't say which side. Interested in hearing your thoughts Thanks O

I mentioned this morning that I was expecting a "buy" on the 60 RUT today, whose BB daily flare we have now lost. Got 8 for 8 60 min crunches "buy" with the close. Also, you will note that we are not down AH, despite all the "news." Unless of course, etc.

Still long from this morning, I'll continue to take my chances on a small May position.

These bounces have a crash feel to them.

Bounce is looking better now, I want to see it break above 14520 YM.

Inverse H&S setup on SMH daily targets the old highs.

Edited by CLK, 18 April 2013 - 09:41 PM.

Just broaden yourscope my friend-it's a market of stocks. If you get inclined to short, there are some areas that are much better than others to do so. The XLB is one of theweakest sectors-look at the index or the stocks there-but don't short it until te MCO makes a run back toward the zero line-short strength there. One consideration also related to that is that some of those stocks are in the DOW-so, after a bounce, the DOW is a likely area to start feel some pain. Tech and financials have also offered opportuniy. My last two put plays were GS and NFLX. They had very similar corrective up moves, and long wicked daily candles at the top for the invitation to short. Both worked out fine, and are both closed out now because I agree with Selecto, and his Boli take-this is no place to initiate a short. I'm coming nto tomorow fairly light, with only weekly put and call plays. Due to market action, I'm holding TLT 123.50 calls that I'm in cheap, CAVM weekly 30 puts I paid .25 for, and CI weekly 65 calls I have .08 in. Light risk in a fluid situation, market of stocks approach. I'll short materials on a move back toward the MCO zero line, as I said. Some indexes have fired sell signals, some have not. Some summations are headed to the zero line, or at least much closer to it than others, and they will tend to provide a larger percent return on any down day. For instance, the nasdaq-when the summation got under 250-it started getting lit up. Just food for thought, buddy. Good trading to you!

Edited by thespookyone, 18 April 2013 - 10:10 PM.