Tuesday, August 17, 2010

Hitting Resistance Now

Not jumping to get short yet here at 1091. I want to wait until this up move fails before I risk taking a short...

2 comments:

  1. Reason I don't hurry to get short here is that there are potential stop orders here for current shorts... If they get executed, it could drive the market higher, which is why you often times see a pierce of resistance levels before the market reverses...

    ReplyDelete
  2. Taking a Short Now. This is not yet a swing short, I'm only looking for a scalp as we have now pierced my level and it is beginning to look good... Short here at 1093, just looking for 2 points

    ReplyDelete