Hi Vesselin,
So are you currently long? What percentage of your trading amount?
I was building my short positions since May until I was over 100% short toward the end of the down trend. I too had anticipated an intermediate trend reversal in early August and began covering my shorts and taking profits. By August 20 I was completely out but had not yet been convinced to go long until what I felt was major resistence at around the 1425 level would be broken.
After fully covering, I had a terrible feeling that I was completely shaken out by what would probably be just a typical bear market ralley to the 50ema as we've seen in March and May which I now feel is all that this was. We saw a perfect bounce off of major resistence at 1425.
I've currently started to build up my shorts positions again and will continue if this selloff continues. I have a mental stop at NASDAQ 1450 or so.
I think once 1200 is reached we could either have a perfect setup for a double bottem, or a penetration would be a signal to go aggresively short.
I know further downside is at odds with your thoughts but many of the trend indicators are starting to show signs of turning. Also, it appears that during a primary bear trend it requires that the indicators are in the extreme oversold level to indicate a bottem, but they may never reach the extreme overbought levels before a top is actually put in. Of course the reverse is true in primary bull trends where the indicators may hug the overbought level. As such, it is not out of the realm of possibilities that we continue down from here. Do you have any thoughts on this? How are you projecting a tartet of 1550 on the NASDAQ?
Vesselin, I think this will be a great board for the serious investor/trader.
Regards,
Rob
![](http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=%24COMPQ%2Cuu%5Bw%2Ca%5Ddiclyiay%5Bd20020101%2C20020829%5D%5Bpc50%21c13%5D%5Bvc60%5D%5Biul14%21lh14%2C3%5D%5BJ6802554%2CY%5D")
So are you currently long? What percentage of your trading amount?
I was building my short positions since May until I was over 100% short toward the end of the down trend. I too had anticipated an intermediate trend reversal in early August and began covering my shorts and taking profits. By August 20 I was completely out but had not yet been convinced to go long until what I felt was major resistence at around the 1425 level would be broken.
After fully covering, I had a terrible feeling that I was completely shaken out by what would probably be just a typical bear market ralley to the 50ema as we've seen in March and May which I now feel is all that this was. We saw a perfect bounce off of major resistence at 1425.
I've currently started to build up my shorts positions again and will continue if this selloff continues. I have a mental stop at NASDAQ 1450 or so.
I think once 1200 is reached we could either have a perfect setup for a double bottem, or a penetration would be a signal to go aggresively short.
I know further downside is at odds with your thoughts but many of the trend indicators are starting to show signs of turning. Also, it appears that during a primary bear trend it requires that the indicators are in the extreme oversold level to indicate a bottem, but they may never reach the extreme overbought levels before a top is actually put in. Of course the reverse is true in primary bull trends where the indicators may hug the overbought level. As such, it is not out of the realm of possibilities that we continue down from here. Do you have any thoughts on this? How are you projecting a tartet of 1550 on the NASDAQ?
Vesselin, I think this will be a great board for the serious investor/trader.
Regards,
Rob
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