Tuesday, February 19, 2013

Hold shorts.

The relentless drawdown continues for us shorts. The JTS is signaling a pullback is due for tomorrow, but I doubt this market will ever pullback. No changes for today - I will continue to hold my position. Thanks.
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13 comments:

  1. JaredFebruary 19, 2013 at 6:33 PM

    Sure seems to get dead around here when things don't go our way...

    ReplyDelete
  2. AlgyrosFebruary 19, 2013 at 7:10 PM

    Good point, Jared. I miss some of our WOW friends telling us how much money they made.

    In the meantime, I'm as grateful to J in lean times as I am in fatter ones.

    ReplyDelete
  3. JKHFebruary 19, 2013 at 9:34 PM

    I put on some ES in A/H... anticipating a gap down open tomorrow. If don't get that, I'll go for B/E+1.

    ReplyDelete
  4. johnFebruary 19, 2013 at 10:10 PM

    Always say thanks-- he does the work for free so why would anyone get upset.

    ReplyDelete
    Replies
    1. JaredFebruary 19, 2013 at 10:56 PM

      Agreed! Every trade unfortunately can't be a winner.

      Delete
  5. David JohnsonFebruary 20, 2013 at 11:39 AM

    Will IWM's string of six consecutive days of higher lows be broken today? Though IWM is dropping like a rock now, today's low is still 19 cents above yesterday's low of 91.87. Wouldn't be surprised if it bounces before that level.

    ReplyDelete
    Replies
    1. RealMoneyIssuesFebruary 20, 2013 at 12:01 PM

      Bounced at 91.94, just 7 cents...

      Probably low of the day at this point, POMO and the institutions are not ready for a drop. Too much retail investor money still on the side lines.

      Thinking about calling this quits and going long if we stay near here during the afternoon. Tomorrow could be a good pop back up.

      Delete
    2. AnonymousFebruary 20, 2013 at 3:17 PM

      stock market is like golf. just about the time you are ready to throw the clubs in the lake, you time a sweeeet shot.

      Delete
  6. David JohnsonFebruary 20, 2013 at 2:12 PM

    Well, IWM has a lower low today, so the string of 6 consecutive higher lowers has been broken, if that means anything.

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    Replies
    1. MarcoFebruary 20, 2013 at 2:24 PM

      If we can close below 91.87 we'll have a bearish engulfing candle as well.

      Delete
    2. RealMoneyIssuesFebruary 21, 2013 at 7:49 AM

      May be true, but that hasn't stopped the buyers from coming in and buying up any dip that dared to show its face :-)

      Delete
  7. BradFebruary 20, 2013 at 3:07 PM

    Wow huge afternoon move!

    ReplyDelete
  8. JamesFebruary 20, 2013 at 3:55 PM

    Wow is right!

    ReplyDelete

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