Good Morning Autumn
I get burned too often trying to short a fast market - as a matter of fact I have quite a big position in SPY shorts that were inastutely placed, as it were. So mos of my focus is milking this test of the lows for all its worth to get out of these positions. In any event, if the market is limit down at the open we might see a pretty good bounce back.
I have a small short in AWIN of all things, but the technicals I use looked right. The problem with shorting the market now is that so many stocks are over the 200 dma, they'll be plenty of time for shorting without trying to call the top.
Briefing panned both AOL and AMZN recently, and I have been watching AMZN very closely, but have been too timid to jump in, I sort of feel like it amounts to standing in front of a steam roller.
In any event, my system for picking shorts, which is based on Elder's book and oscillators, picked AMAT, KLAC and LSCC as timely shorts last night. It also picked NBL which looks the most enduring to me. It is not a bad system for picking shorts, I have very good experience picking entry spots with it, but I am horrible at exits and give back most of my profits.
So you short often? One thing I have learned to do is always short with a limit - otherwise I always seem to get the short filled at the bottom <G>
Bob |
