Edited by viccarter, 12 February 2015 - 01:08 PM.
Market Comments RUT: 45/hourly
Started by
viccarter
, Feb 12 2015 01:07 PM
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#1
Posted 12 February 2015 - 01:07 PM
45/hourly has turned back LONG this morning. This not an emotional decision. Pure risk management. When on a long, I don't trade short unless I have a greater, overriding premise. It is not an entry/exit system. But if I trade, it will be a long trade until it turns again.
We had been on a SELL since Tuesday morning, and now we are not. When we were on a sell, I had no major thesis to sell short, so I put on a trade or 2 in the direction on a short term basis as appropriate. Yesterday, I saw the QQQ looking like it wanted to break out long, so I didn't have in reason to be bearish. Right now we are up about the same as the afterhours bump yesterday. Really, the slowness of this makes me a little more bullish.
Status: will be LONG or FLAT until further notice with respect to RUT.