Thursday, September 17, 2009

9/17 after close

$Bpcompq and $Bpspx are showing good market breadth for a mild down day. Although now it's very close to 2150 (for Nasdaq) and 1080-1100 (for $SPX) , we have not seen the breaish reversal signs. I would sell some of my long positions, but I will not open the shorts until I see some bearish reversal signs. If you trade for many years, you probably agree " Don't fight the trend, especially when the trend is strong".
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2 comments:

  1. tryittrySeptember 18, 2009 at 1:46 AM

    Nice, are you ready to exit FAS or what is your stop loss?
    Thanks!

    ReplyDelete
  2. J LiSeptember 20, 2009 at 7:00 PM

    I would exit half FAS at current level and let the other half run with stop at $80.

    ReplyDelete

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