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Interesting spot to cover. I'm sure we will hear why...seems like a break of 1085 would lead to a selling deluge.
Nice short play Carl... Congrats!Jack
John, we are at the support end of a trading range. Betting on a breakdown of the support or a reversal from the support is like gambling.It is safer to go long only after a confirmed reversal or go short after a confirmed breakdown.Of course, this approach assumes that a bull does not get his high by buying at the "bottom", accurate to the last quarter or that a bear does not get his high from his prediction about the breakdown of the support.Actually, one can easily get in at a pretty good price on a backtest.
Kishore,The time is yours...
The obvious response to your comment, Kishore, is duh. But why put on a short for a small gain? Market failed to challenge yesterday's high, and thus seems like high has been made. Short seems like low risk hold on the day.This isn't really Carl's style, aside from the lack of conviction on the short side right now.
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