Wednesday, November 18, 2009

Another chart of interest


Take a close look at the 61% and the 161%. This is from our previous low spanning accross our 3 peaks. According to this one we have a top building before the day is over.

4 comments:

  1. spend some more time looking at charts. While the above chart is very encouraging to the bears - I am very concerned with our sideways narrow range here. The lack of pullback below 1100 on SPX is quite scary if you are short. I strongly believe we will see the range below 1100 SPX very soon but I cannot count out a possibility of reaching 1130 or even higher.

    So as a result I will be closing out some positions today with a loss. If we do get above 1120 I will re-add those, otherwise let the rest run out.

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  2. covered POT here with a loss. Going to exit the put today as well.

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  3. Stopped out of POT puts as well.

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  4. closed half of the amzn short here. Premium drop is killing me - thats what I get for not using protection lol

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