ST it is slowing down and setting up for a 1-2 day pullback..i exited most trading longs...if we get a quick pullback (1-2%) in a day or two, I would buy and probably hold into Labor Day...which should then set up for the next down wave.
sell longs
Started by
tommyt
, Aug 23 2007 09:22 AM
2 replies to this topic
#2
ogm
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Posted 23 August 2007 - 09:32 AM
Isn't the red color absolutely terrifying at this point ?
Every time you see red you think huge plunge is about to unfold once again. End of the world and other stuff...
Every downtick is painfull 
#3
tommyt
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Posted 23 August 2007 - 09:50 AM
I think thats how the traders have felt all week, like every downtick was the beginning of the next wave down...I trusted my indicators, and held most till today..(still got LNC).. the vix keeps dropping and is a good sign that heavy downside not in the cards yet, although its not 30 anymore, so have to respect that.
