- While the emotion is there to be adding to shorts, I believe it is too early to do so. Last week was a shock and it should take at least a few trading days and probably weeks to set up another real shorting opportunity. I have been here in the past and I always add to shorts too soon. There is a serious need to be patient in the midst of all this volatility.
- Look to cover the shorts I have remaining in the financial space over the next 2 days. They should sell off a little but then find support on the 9 and 20 day MAs and look to make another short term high before giving another short opportunity.
- Tuesdays were counter trend days over the last few weeks. What ever happened in the morning on Tuesdays never was the result by the close of the week. If Shorts are up tomorrow morning look to cover.
Monday, July 21, 2008
7/21T3:13 Notes from the Edge...
Subscribe to:
Post Comments (Atom)
Visit our Website
Subscribe by Email
Subscribe in a reader
No comments:
Post a Comment