4 replies to this topic

[ogm]

There is now enough momentum to get this to about 1535. Dips will be bought till then most likely. Though we're still in heavy resistance zone. But they did turn 60 min summations around here, which usualy means a few days of stronger market. I'll consider pulling in a couple positions on tomorrow's pullback.

Edited by ogm, 06 November 2007 - 04:03 PM.

[isaac613]

Are you going to go long again. Do you think the market is going to go higher now?

[ogm]

Are you going to go long again. Do you think the market is going to go higher now?

No, not looking to go long yet.

Looking to add to shorts, but it may be at higher levels.


Market will be down big in December/January timeframe. No reason to be cute with longs here.

After that I'll go long somewhere.

Right now we are in a silly distribution volatility. It can jerk up or down for a couple weeks pretty hard.

The setup in the charts pointing to a continuing decline. The only question for me is to reduce short exposure and look for better opportunities a few points higher, or not.

But the decline is coming,

Edited by ogm, 06 November 2007 - 05:02 PM.

[isaac613]

Are you holding the apple short or are you thinking about covering that one?

[ogm]

Are you holding the apple short or are you thinking about covering that one?

AAPl and GOOG are not really good shorts I'll probably cover it tmorrow. But keep GOOG.

That was a mistake. Fortunately its only a 2% on the position loss.

Just to cheer myself up, I'll cover ABK short tomorrow, for 40% profit Or at least some of it.

Thats the good thing about shorts like AAPL. Drawdown isn't big, if they go against you.

I'm upsidedown on GOOG too, but its only 4% loss.

As long as you keep the same amount of money into every position, and don't overload on any particular position, you're fine.

Asset allocation.