I was leaning big time short and that spike caught me like a deer in headlights. Did anyone else get caught? Now what? Gap and go Monday? I threw some longs on into the close just in case.
Friday Afternoon Spike Ruined My Week!
Started by
hedgehawk
, Feb 22 2008 08:15 PM
18 replies to this topic
#2
SemiBizz
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Posted 22 February 2008 - 08:24 PM
I had a stop at 2281.. I had a great week. In a bear market you always have to be prepared for these spikes, this wasn't the first we've had, and it won't be the last. Make the market prove to you that it can go lower. These fools are not going to stop buying stocks so you might as well take your profits and just wait for a new entry. 
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
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http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
TheArchitect
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Posted 22 February 2008 - 09:04 PM
i picked up some calls on qqq's after we were at the line in the chart we bounced off of... so i caught the rally... can't say it was anything other than luck... except i was watching to touch that line at around 42.75... but all this trade did for me was bring me neutral for the day because yesterday i bought calls after the gap (ya oooops... idiot... i never do that)... i was still trying to make up for the 10% loss the other day... not good form... not at all...
http://stockcharts.c...9657&r=5990.png
http://stockcharts.c...9657&r=5990.png
#4
eminimee
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I don't care who's fur is flying...
Posted 22 February 2008 - 09:33 PM
3:15 igniton..
Watch the top Monday..
http://stockcharts.com/c-sc/sc?s=$BKX&p=15&yr=0&mn=0&dy=27&i=p09493911091&a=130869456&r=6598.png
Watch the top Monday..
http://stockcharts.com/c-sc/sc?s=$BKX&p=15&yr=0&mn=0&dy=27&i=p09493911091&a=130869456&r=6598.png
Edited by Teaparty, 22 February 2008 - 09:40 PM.
#5
oextrader
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Posted 22 February 2008 - 09:46 PM
I was leaning big time short and that spike caught me like a deer in headlights. Did anyone else get caught? Now what? Gap and go Monday? I threw some longs on into the close just in case.
The spike was perfect if you want more selling as RSI is now overbought. notice the Russell finished down.
Rick
#6
JAP
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Posted 22 February 2008 - 09:51 PM
I was leaning big time short and that spike caught me like a deer in headlights. Did anyone else get caught? Now what? Gap and go Monday? I threw some longs on into the close just in case.
Monday gap-up, then we go back down.
#7
IndexTrader
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Posted 22 February 2008 - 09:55 PM
I would imagine we gap down, not up. But I'm flat.
IT
#8
mike123
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Posted 22 February 2008 - 10:36 PM
They probably have used up all the fuel from the bailout. Actually the news has been around for a couple of weeks. Good opportunity to short after deal is announced.
#9
AChartist
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Tim
Posted 22 February 2008 - 10:41 PM
Excellent to reload, my new longs will be gone as well.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
#10
Rogerdodger
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Posted 22 February 2008 - 11:37 PM
I was leaning big time short and that spike caught me like a deer in headlights. Did anyone else get caught? Now what? Gap and go Monday? I threw some longs on into the close just in case.
Been there done that.
I know a lot of folks are being chewed up and spit out in this volatility.
But I have been yelling that it was too obvious.
In this market, you can't blink and you better have some stops.
As far as gap and go? Maybe.
The bears got trapped fur sur and maybe still have some fur to burn, but so far squeezing shorts is all the energy this market has shown.
"Nature's Failure to Function in a 'Predictable Way'... 500 years ago?"
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
