Tuesday, January 17, 2012 9:22:48 PM
Hit the wall last night at 3 posts
...and didn't make it back here today. Appreciate the invite and will try to add to the site in as few posts as possible.
Have been working the short side of the house for a while now with SPXU and have taken my licks. PM's last year this time. I'll probably be a contrary indicator by saying I've flipped long late today with UPRO, after getting the typical short buy signals on the intraday charts. So...a few charts to emphasize my position.
$SPX Daily - Upper BB ok and price above the 7. Trend is your friend.
$SPX 15min - Learned the hard way not to short until the 200 is really broken. Chart by Frailey.
And UPRO 15min - Ready to rise. Close stop at $SPX 1290.
For anyone following the decline of the $BDI, it closed triple digits today. Inverse correlation with $SPX since Q4 2010, might really be time to short when it bottoms and turns. Jury summons tomorrow - taking my laptop. GL...ess
...and didn't make it back here today. Appreciate the invite and will try to add to the site in as few posts as possible.
Have been working the short side of the house for a while now with SPXU and have taken my licks. PM's last year this time. I'll probably be a contrary indicator by saying I've flipped long late today with UPRO, after getting the typical short buy signals on the intraday charts. So...a few charts to emphasize my position.
$SPX Daily - Upper BB ok and price above the 7. Trend is your friend.
$SPX 15min - Learned the hard way not to short until the 200 is really broken. Chart by Frailey.
And UPRO 15min - Ready to rise. Close stop at $SPX 1290.
For anyone following the decline of the $BDI, it closed triple digits today. Inverse correlation with $SPX since Q4 2010, might really be time to short when it bottoms and turns. Jury summons tomorrow - taking my laptop. GL...ess
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
