Unique swing trading signals and stock market commentary.
Tuesday, February 12, 2013
Adding shorts.
All systems will hold the shorts. I added to my TZA position and am now 100% short. I stand to get crushed if we go much higher. Let's hope that doesn't happen. Good luck to all of us....
J
I bought a decent size chunk in extended hours at 10.53. This is my first buy since the original signal on February 8th so we will see how this plays out. :)
They got the futs up a smidge here in AH... put on a little more ES 1575.50... will add another set on a big gap up open tomorrow -- and play the fade. Will cover any lower positions for B/E+1 when I can.... just working this short higher, and pacing my way in on this one.
Hoping we get a little volatility off Obama's "love" speech he's expected to give.
SPX daily chart is right at ascending TL resistance (log scale) with contact from March and Sept of 2012. Reasonable place to expect a minor retracement. And the gap from 2/7-8 is calling SPX back.
thanks
ReplyDeleteI bought a decent size chunk in extended hours at 10.53. This is my first buy since the original signal on February 8th so we will see how this plays out. :)
ReplyDeleteim half in. gonna keep half dry a little longer in case we see more upside action.
ReplyDeleteThey got the futs up a smidge here in AH... put on a little more ES 1575.50... will add another set on a big gap up open tomorrow -- and play the fade. Will cover any lower positions for B/E+1 when I can.... just working this short higher, and pacing my way in on this one.
ReplyDeleteHoping we get a little volatility off Obama's "love" speech he's expected to give.
SPX daily chart is right at ascending TL resistance (log scale) with contact from March and Sept of 2012. Reasonable place to expect a minor retracement. And the gap from 2/7-8 is calling SPX back.
JKH, could you please tell me what ES is? I'm guessing that isn't a stock symbol, but something else. Thanks!
DeleteIt's the e-mini futures contract for the S&P.
DeleteThank you Algyros...even though I don't know exactly what that is lol. I still have a lot of learning to do. :)
DeleteThis "grind higher/melt up" looks to continue!
ReplyDeleteSadly yes... definitely has the same flavor as last year, but we are nearing all time highs...
DeleteIs this another bubble?
Yes and same pattern persists, any and all weakness in morning gets bought aggressively.
ReplyDeleteSurely the market knows it's not allowed to finish down.
ReplyDeleteHere come the buyers...
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