I got out of that short position.... market is stronger than I thought.... But I'll just day trade again tomorrow....
My Origional DUG position is down $200..... I don't care I'm holding it on principle. Oil is comming back... or I'll lose every cent of that trade.... don't care if I have to hold it till financial armageddon.
Thursday, May 8, 2008
update
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3 comments:
It seems like the market is starting to settle down a little, it may be too early to say it, but it looks like the worst may be behind us
This is a very indecisive market at the moment and there seems to be some sort of tug of war going on.
I would prefer to wait a while before deciding to go long or short.
I keep hoping to post it... but I suspect one more leg down, Probably tomorrow. then we get my 2 more highs...
that will be it..
but not like I haven't been wrong before...
a good 50% retrace isn't a surprise.
it's a wave 4 in this up-move... then we get wave 5... to some new highs...
Then the uptrend should/could be over.
I'm going to day trade.. These moves are now big enough to make good money day trading. as opposed to the past 2 weeks.
I'll be looking for financials to be down big in the morning, then to catch a bid at one point, which should be trad-able. if not a near term low..... but.... most people aren't going to hold stock through the weekend.
Thanks for comming by and sharing opinions... I always love to know what people are thinking...
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