November 19, 2008 – Staying short

Thu, Nov 20, 2008

US Commentary

There is not much to do when the market’s doing what you want. We’ve patiently waited for strength to align ourselves with the weekly trend and as soon as that strength starts to slip, we get short and allow the larger trend to do its thing. We retain 4 shorts, all of which moved well for us last night. No new positions have been added, nor will they at this stage. Another down session will allow almost all stops to be at break even and then its just a matter of letting the market unfold. A serious down session may bring one or two targets into play. As at writing the open trade equity is at all time highs, +10.8% in 7-weeks. Here is the current statement:

Click to enlarge

Click to enlarge

0saves
If you enjoyed this post, please consider leaving a comment or subscribe to our newsletter and receive a free sample of our analysis each week.
This post was written by:

Nick Radge - who has written 899 posts on The Chartist.


Contact the author

Facebook comments:

Get Adobe Flash playerPlugin by wpburn.com wordpress themes
Rapid SSL
We accept Visa and Mastercard
Financial ReviewCNBCSky News Business ChannelAustralian Technical Analalysts Association
youTubeiTunesVimeo