If you're short, I'm the sucker going long....: If you are interested in some Denial

Thursday, August 28, 2008

Umn, you can call the spy a "double Top" on resistance... (but the downtrend is broken)
and the Q's Just hit that declining trend.

tradewell said...: Denial is my drug :)

Maybe that's the idea, shake the shorts out, like you said.

Then punish the longs, too.; August 28, 2008 at 11:03 AM
Eric said...: this feels good.... Yes, i've been on the bad side of that plenty of times.... "I'll just set my stop on this high", then that LAST high, gets me.

I've been on the bad side of the denial thing...

"I saw the high, and I could have gotten out break even.... I got out at the wrong place...."

I didn't take the warning and I could have gotten out.

You could hedge too.; August 28, 2008 at 11:06 AM
tradewell said...: What's the double-long SPY ETF?; August 28, 2008 at 11:09 AM
Eric said...: sso, this finally feels 70% toppy; August 28, 2008 at 11:12 AM
Eric said...: "SSO" is the ticker..

If you are woried you could hedge till we hit 129; August 28, 2008 at 11:14 AM
tradewell said...: Hmmmmmm... (thinking) Probably not. I'd rather have cash if I want to average down later.

IN the news: "Tropical Storm Hanna has formed"; August 28, 2008 at 11:20 AM