I don't post much on these any more, since we haven't had the volatility and I've been passing on more trades than not. Still, I publish the signals, because Iknow they'll get hot again.
Yesterday, I just took one. I had to. It was classic, and I figured that I'd be able to easily stop it. I advised shorting at 155600. I nailed the high bid of the day. At the close, I told folks to watch the run off closely for volume on the upside, and if we got it, take the profit. We never got it. We're still short and targetting 153600. The stop will be above the 50-hour.
Mark
KTT Sell
Started by
OEXCHAOS
, Jul 24 2007 08:11 AM
2 replies to this topic
#1
OEXCHAOS
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Mark S. Young
Posted 24 July 2007 - 08:11 AM
Mark S Young
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#2
OEXCHAOS
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Mark S. Young
Posted 24 July 2007 - 09:29 AM
Well, that's a nice profit. KTT is now flat. I'm looking short on a bounce, maybe.
The volume isn't there on the downside, however, so I may pass on shorts, especially if it comes in on the long side.
Mark
Mark S Young
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#3
Cirrus
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Posted 24 July 2007 - 09:59 AM
Nice job Mark. The financial sector and some major financial stops openned right at very strong support on the gap down. I would expect them to bounce...at least temporarily. The very fact that they are trading at these low multiples is a tell in itself.
I went long C today for a swing trade.
