LONG

Blood in the streets trade triggered in the DOW (30 period RSI <40). We have also had high TRIN and high P/C ratio for several days running. If tomorrow bounces, I may hold on to the position as a swing trade and may even add to it. If we drop further and there is no sign of recovery latest by tomorrow afternoon, I plan to exit.

Blood in the streets trade triggered in the DOW (30 period RSI <40). We have also had high TRIN and high P/C ratio for several days running.

If tomorrow bounces, I may hold on to the position as a swing trade and may even add to it. If we drop further and there is no sign of recovery latest by tomorrow afternoon, I plan to exit.

yes kaiser, pulled the same reversal of position on the qqqq's

only way i exit is if we break aug lows on a 60 min close

My own feeling is that if the Aug lows are approached, they are likely to be broken, simply becos so many people are expecting them to hold. Also, my own study of the blood in the streets (BITS) trigger informs me that if the market cannot bounce in the face of a BITS buy, it portends much much more downside ahead.