Quote:
Originally Posted by PaceAdvantage
I've gotten about 20-25% of it back thus far (depending on how today finishes).
It's going to be a bit of an uphill battle though...although with the VIX moving up, it could come back quickly if I'm on the right side of things...if not...  |
Playing the short side is riskier - the time frames of the dips are much more compressed. Replacing a strategy of BTFD with "sell the rip" is easier said than done.
Didn't quite get to 2581, as the /ES now down 10. Feel good about getting out of my long at 2577.75 earlier today - turns out that was about 1/2 point below the daytime top.
Lots of risk over the next few days, with Trump teasing us like a schoolgirl getting a new car for her birthday with his "major announcement" soon (N. Korea?), the tax plan vote in the House, and the holiday week coming up. I may go long if I can get in around 2555 and it looking like a short term bottom. Keeping an eye on metals, treasuries and DXY for hints about where the dollar goes.
Short Term Trend: down, but looking for a bounce up around 2555, or a bounce down off 2481. Next top after a bounce could be around 2612, but it could run higher or collapse anytime after reaching 2595....
Medium Term Trend: up, break below about 2502 on the /ES confirms change.
Long Term Trend: up, break below about 2380 on the /ES confirms change.
