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

"Sell down to your sleeping point"

Friday, October 30, 2009

Hedge the flag

Besides the issue with us having a Non Flag Flag(meaning a pullback from here, which is more Wunderbar than flag.)


we will see if at 11 we get some kind of uptrend... or if the downtrend continues.

but I'll look to hedge if we can get a higher intraday low, or if she looks stalled.

9 comments:

Tony said...

T.Lo and Guy Adami ended up both correct on AAPL, which is now in the low 190's. I got about $4 of that and am out.

Eric said...

I'm trying very hard to convince myself that we won't crash

Tony said...

I see crash. Big crash.

But I've learned to fade my own sentiment--- how's that for confidence?

I was very short yesterday, held them and was in a rotten mood last night. Now, I'm better, but I'm tempted to start taking some profits.

DXY went up to 76.40 before coming back down. Cashin said something about Wed that we were within a few cents on the DXY of a stock market meltdown.

Eric said...

if you are going to fuck around with a long scalp... I'd look for a higher low.. at least.

of course this thing has a propensity to just go Vertical.

Tony said...

I see the UUP already in a wave 3 with all of yesterday being the wave 2... on a 15 or 20 minute chart.

Breakout above 22.75 would likely put stocks in the toilet... maybe next week?

GE now hitting a near term low, may be the "tell" on the market.

Tony said...

VXX up 8% today. Smells like fear.

Eric said...

Remember it takes time for "Them" to sell.

they arn't as nimble as we are.

so Subtable just went overt..

if you make me guess.. this is half way.

Tony said...

Higher low, I have hedge on SSO and DIG

Eric said...

There is a point where "they" know something we don't.

some of the market makers have HUGE Pukes of stocks from everywhere.

100K shares from this fund or 100K shares from another...

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