is to wait for a more favourable setup.
In the meantime I remain 100points from being stoped out.
WARNING TO SHORTS: Bulls are very determined 2day for a triple
Started by
BigBadBear
, Aug 31 2007 10:38 AM
2 replies to this topic
#2
ogm
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Posted 31 August 2007 - 10:47 AM
How much do you expect to make on the trade if you have 100 point stop ?
I think you're wasting your good trade from yesterday. You were long, made good profits, and now going against the market that is clearly strong and going up.
Risk/reward just isn't there for the short side here. Watch how your stop will be taken out, possibly even today or with another gap up open above resistance on Tuesday, if we close here.
Don't forget that we're entering one of the most seasonaly strong weeks of the year here. And the Fund managers who dumped everything will be scrambling to get back in.
Edited by ogm, 31 August 2007 - 10:48 AM.
#3
BigBadBear
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Posted 31 August 2007 - 10:49 AM
cant argue with that but DOW needs to rally 200pts today to stop me out[$5K loss]
We may close up 200pts. We shall c.
We may close up 200pts. We shall c.
How much do you expect to make on the trade if you have 100 point stop ?
I think you're wasting your good trade from yesterday. You were long, made good profits, and now going against the market that is clearly strong and going up.
Risk/reward just isn't there for the short side here. Watch how your stop will be taken out, possibly even today.
