Flipped To Long

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December 5, 2008

Market indexes and a bunch of other shit closed above 21 day moving averages and took out any upside level I was looking for earlier in the week.
———

These were the levels:
851.81 spx
456/451 rut also close below 448 would be wonderful
1151.96 NDX
8451 DOW???
1472.02 compx
1482.05 compx
16.55 UWM

———

Seriously I can’t ignore these items that I’m seeing turning up here. The most important piece is that today marks the end of the week. I don’t care that the market rallied on the bad news. I don’t care about the jobs report per se, technically this was a pivotal day and market spoke. Do you sit there and mope about it and hope the market turns back down on Monday or do you play what the market is saying now?

Long RUT and SPX over the weekend. Hopefully the Earth doesn’t blow up over the weekend because I’d like to get a day right before that happens.


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  • jag

    nice trades! you are embarrassing yourself.

  • http://scalptrading.blogspot.com singh

    i wished u post LIVE trades not after hours
    thnx

  • Jack

    If you go back to the charts from the great depression you'll see there were successive spikes up but the trend was consisently down. I got burned bad too betting on the short ETNs this past week. I still am in. However come Monday I'll throw in the towel as well if we see more upside. That will be a painful day indeed

  • http://www.stockrake.com StockRake

    Most of my trading decisions come at 3:55pm so not much time between posting here and making the actual trade.

  • Jack

    If you go back to the charts from the great depression you'll see there were successive spikes up but the trend was consisently down. I got burned bad too betting on the short ETNs this past week. I still am in. However come Monday I'll throw in the towel as well if we see more upside. That will be a painful day indeed

  • http://www.stockrake.com StockRake

    Most of my trading decisions come at 3:55pm so not much time between posting here and making the actual trade.