I do not wanna get too excited about turning bearish here. The futures were down big earlier and have since recovered. There might be some upside pressure still left. I have 150 shrs long of FAZ which i will likely sell at the open. good luck.
I didn't participate today at all Stewie. It's funny when I've been waiting for this relief rally, it starts with huge gap and me with a blown stop on an early SKF long (which went from +400 to -2500) and then mostly a sideways Tues. (longed 2k SRS early got +2.5k back). Today XLF and FAS hit yesterdays support and ran all day. I didn't see any major participation anywhere else. Just a little up here and there and a whole lot of down on the inverse ETFs, which Trade Station doesn't allow me to short. That's a real pisser, because that's how I normally make money.
Looks like S&P 800 is in the cards. Looking for big volume momentum moves to trade my style. Most def. a reversal in the financials. SKF has blown through 4 levels of support in two days now.
good call to sell at the open...FAZ getting crushed...
ReplyDeletethat i actually got out with a small gain too but i am kicking myself for not riding this rally. it was bound to rally today. oh well.
ReplyDeleteI didn't participate today at all Stewie. It's funny when I've been waiting for this relief rally, it starts with huge gap and me with a blown stop on an early SKF long (which went from +400 to -2500) and then mostly a sideways Tues. (longed 2k SRS early got +2.5k back). Today XLF and FAS hit yesterdays support and ran all day. I didn't see any major participation anywhere else. Just a little up here and there and a whole lot of down on the inverse ETFs, which Trade Station doesn't allow me to short. That's a real pisser, because that's how I normally make money.
ReplyDeleteLooks like S&P 800 is in the cards. Looking for big volume momentum moves to trade my style. Most def. a reversal in the financials. SKF has blown through 4 levels of support in two days now.
i was eying BGU long on that monring weakness. i just KNEW it was gonna rally. hesitated for an hour and my risk/reward was gone.
ReplyDelete