Wednesday, December 09, 2009

covered short unit at 1088.25


John said...

Interesting spot to cover. I'm sure we will hear why...seems like a break of 1085 would lead to a selling deluge.

TradingNuggets said...

Nice short play Carl... Congrats!


Kishore said...

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.

extrader said...


The time is yours...

John said...

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.