Sat, May 18, 2013, 9:17 PM EDT - U.S. Markets closed
i would take some rabbitts off in panic
I covered right around when you posted this. 1500 looked too strong although I still think it's a weak market overall. 1509 should be interesting. The top of the rising wedge DID hold again and that five year pattern is starting to converge rapidly.
Xtgeminiman , I am glad you understood and covered . I thought Kibbles understood trend was down and the trade was short . So cover means cover shorts .Hmmmm
what does that mean?
does it mean you bought calls? got puts?
did you just go long?
did you just go short?
on what? who what? where?
It means that you were going long against 149.86 and that was your stop. That is the line in the sand. Every one that was LONG above 152.60 bailed out. Same as 151.57.
So 149.86 had to be supported to arrest the selling. Break of 149.86 takes you in to extensions of the range.
it's done for now LAST TRAIN
Kibbles that was aplace to take off short and if you wanted to go long go long ,you can sell some longs here