I am seeing VST indicators which suggest a last hour selloff. I am not sure, how deep it's gonna be though. First confirmation i am getting here today to even try a short trade. Again this is based on 30-min charts.
It's a risky short though, cuz when the intraday breadth is as strong as this, they generally close it at the top tick of the day. So it's only for super-nimble types.
Last hour selloff ??
Started by
NAV
, Oct 05 2007 01:56 PM
6 replies to this topic
#2
ogm
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Posted 05 October 2007 - 02:03 PM
I am seeing VST indicators which suggest a last hour selloff. I am not sure, how deep it's gonna be though. First confirmation i am getting here today to even try a short trade. Again this is based on 30-min charts.
It's a risky short though, cuz when the intraday breadth is as strong as this, they generally close it at the top tick of the day. So it's only for super-nimble types.
It depends on how many people tried to sell toda'y new short
And I bet a lot of people did, if this board is any indication.
#3
eminimee
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I don't care who's fur is flying...
Posted 05 October 2007 - 02:11 PM
it's not the new shorts that I'm worried about during this squeeze...it's the old shorts getting squeezed on the new spx high that is going to power it if the vice gets tighter.
#4
Drano
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Posted 05 October 2007 - 02:40 PM
Equity-only p/c for last half hour was .55
#5
OEXCHAOS
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Mark S. Young
Posted 05 October 2007 - 02:42 PM
Boy, I really wanted to short this pig, but I defaulted to discipline...which requires a trend change before shorting. Never got it.
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#6
NAV
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Posted 05 October 2007 - 02:51 PM
Boy, I really wanted to short this pig, but I defaulted to discipline...which requires a trend change before shorting. Never got it.
Mark
Mark,
There's plenty of time to short this pig. I already scalped 4 ES points on this signal. I would not overstay in my position here. Going flat. Done for the day.
Time to sit and write all the mistakes i made for the day.
Collected 10 NQ points instead of 50 points, by closing early. Absolutely unforgivable
Swing short using OEX puts 10 SPX points early. Compensated with that late day 4 ES points scalp. Mistake forgiven. I am quite confident that i will make good money on these puts
Not scalping longs intraday because of fear of heights and da_cheifs incessant mockery. Forgiven
Have a good weekend folks !
Edited by NAV, 05 October 2007 - 02:56 PM.
#7
ogm
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Posted 05 October 2007 - 03:12 PM
I'll take a wild guess that we'll have 30+% people fully short again in the weekend polls, as everyone has tried to short this.
