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Now I am wondering if we should sell now because it seems like there is more downside to come...thoughts?
I'd say put a stop loss... so you give it room to go up, but not allowing it to push down more.
Stop loss won't work too well if during after hours trading TNA plummets and we open with a gap down in the morning. I made up most of my losses since I jacked up my last TNA trade so I am selling at the close today and will makeup the last little chunk of my losses in our next move. Also, RMI if you believe there is more downside wouldn't you want to sell today with us being up? Maybe I'm misunderstanding something here...
More downside today... but it looks like it has been up and down, too bad I missed the double top for the day.I will just sell where we are at and move on without worry.
Roger that RMI. Thank you for the clarification. Maybe we will get a little pop at the end of the session today to sell into...one can hope right? :)
Yes, one can hope. I think I am going to see if this rally right now is going up or down and either sell or set a limit order. I need to get ready to get to work...
You guys gotta stop trading TNA and move to e-Mini Futs if you want stops to work at (nearly) all hours. TNA is $48.13 now... stilll going....
Sold my shares at 47.76 and they were bought at 43.03. That is a nice gain right there...too bad I didn't have too much cash in my individual account to invest so I wasn't able to buy too many shares. After hours trading would of been the way to go since it TNA is 47.9X now. Oh well I'll take my gain none the less. :)
Can't complain about a profit... Congrats :-)
J... I'm w/you. I took off a chunk of longs right after the close today - simple profit management... The rest are ridin' this. That 60min YM A/S Ascending Triangle I pointed out yesterday definitely fired "with GUSTO" today. Now we have 3-day Island Reversal galore. For those who ignored the abundant "Bullish engulfings" yesterday, they trapped a lotta bears down there (esp on QQQ VTI IWM SPY). As usual, the dips below the ASCENDING 200DMAs are MAJOR buy signals - can't believe how many morons get that one wrong, thinking it's a SELL signal... sheeze. Bulls should run back up to SP500 = 1358 (of course, not in one fell swoop) for those who want to swing a bit longer... There will be some good upside trading opportunities between now and then, too. And, if I see a major "get shorty" signal before then, I'll let ya know.
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