Dladden, I'm not worry that the market will sky rocket but the Bulls always over excited for a few fake green days. Tomorrow is not a good day because #1 hangman doji #2volume is low compare to yesterday. Tomorrow market will trade sideline with the hangman doji I will put some at 92-93 again for a quick intraday trade,like today. I still holding my long position puts. If market continue to move up, I'll average down on my put. Average down put on this market condition can't loose. Average call you will loose because you have no control or idea how low it wii fall . Look at history performance of DOW for the last 10 years. If you only short the DOW you are a winner,as compare to long. Treat it like you playing long. use DCA(dollar cost average)and average down at every 500pts,or when bar/chart, you will be a winner. Because DOW up 2000pts it tends to give back 1000 or more depends on market condition. As of now We all know market(economy) is not strong so I'm long on put and that's how I play the market. People tend to take profit as soon as market pop up so upside is more limited as compares to downside. Fears always overcome greeds. Whatever I'm still bear till this baby down to 6000pts or lower someday. This is only the beginning. Look at the Japan Index, boy weren't they leading the market back in the early 90s and look at them now. Headlines today admit we are in recession and 7000 jobs to be cut from AX? This has only just begun. I will straddle at 86.
You seem to be reading your candlesticks incorrectly. The market should not have gapped down today and your doji is more bullish than bearish. That formation would be a for sure short if it were at the top of a run. It's not. It's at the bottom of a bear run. Those formations tend to work opposite as they would at the top. So your analysis of this doji being bearish is not correct in this instance.
YES, you are so correct VU. Today should open gap down but it went opposite. So T/A not always 100% accurate but aleast we can minimize our loses. Simple rule: Nothing up forever, today up 1000pts,tomorow down 1000pt,who give a care. Let look at the monthly bar and determine next month direction so we can make money. Hey VU if you're a VN like me,email me at firstname.lastname@example.org to exchange ideas?
I'm still here. Did any one here have gut to put when it bounce back to 92+? I did,just for intraday quick buck,I'm still holding my put. I'm not going to wave any white flag. No way jose. My puts position is still at the positive gain. will cover at 83-85,to be conservative. Relax BEARS!!!!