Replies to post #5776 on T/A ETF AND INDEX

[farooq]

I shorted some shares near the close, because I thought this move needs to be retested, but after running my program tonight it is giving me a 47 % chance that we might go actually up to 41.90 before retracing the up move.
Here is a question for the board; will you cover short position if you have a profit in the morning and re short when it reached to new level of resistance or just stay with your short?
2- Will you buy November puts for new position or October? I am thinking to buy some 41 Puts tomorrow if we reach to 41.90
I would have been very comfortable if we had touched the 41.50, I do think we can reach to 39.03 levels before this month option expiration.
Farooq
Pokersam,
All other boards were right and we were wrong in our trading short term, that is a sad truth, so other boards cannot be good contrarians indicators. Good luck.