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.

14 comments:

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

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  2. 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.

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  3. 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.

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

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

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  5. 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.

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    1. 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.

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

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

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

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