Re: Financial topics
Posted: Fri Oct 21, 2022 1:47 pm
I'm starting to short again. If the market drops next week, I will probably try to get more out of it and perhaps even be able to hold on through a crash.Higgenbotham wrote: Thu Oct 20, 2022 12:12 pmThis S&P has dropped about 35 points and I covered shorts with the S&P up about 2. The market may make another attempt on this morning's high before expiration week is over.Higgenbotham wrote: Thu Oct 20, 2022 10:30 amI'm shorting this morning. Have done some and won't be doing hardly any more today if the market goes higher. I would rather not see the market come any closer to 3767 than it already has this morning. If it does, I will stay with the position I have but get prepared for a move over 3767.Higgenbotham wrote: Wed Oct 19, 2022 8:29 pm I might short into any rally in the next 2 days. 4200 and 3500 seem to me to be the important numbers the past 2 months. I'm not too interested in any levels besides those and their fibs. I'd be really surprised if the market could get over 4200 the rest of this year but wouldn't be surprised to see something over 4000. 3767 is the 38.2% retrace of the trip from 4200 to 3500. After hitting 3500, the market tried to overcome 3767, came close, and failed. I sold some up there yesterday (as posted) and was lucky enough to get out with a profit. The odds the second time up usually aren't as good but the clock is ticking on expiration week.