It would be better to wait for a clear downtrend..... Remember short move are fast and violent. so waiting for a sideways move to break down could take time. We made a new high today...
It would be good to see a new low, and a lower high....
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Friday, August 15, 2008
short entry
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