Recent content by mark twain uk

The bears made good money last friday, maybe today being friday again...

still short both dow and spx, will get out if the dow goes above 13,710 cash and spx above 1541 cash, I took quite a hammering on the dax and have to cut my losses

OK, I exagerate a bit, I have not seen anything like this since the dot.com boom, but you can understand the need to exagerate after a loss of 300+ points

short again from 7966, something's got to give

I've never seen anything like this, the rally in the last few days is way past parabolic, is vertical, it's put on almost 300 points since Wednesday at 14:30, it's not yet 48 hours.

I got stopped out this morning at 7900, it's far too strong and it looks like it's going to reach 8000 today. Nasty loss, about 300 point on four shorts.

I know, I just closed a gold long from yesterday for +80 points, again a typical mistake, I close a winning position to keep open a losing one, but I need the assurance of the +80 points in the bank to at least make up some of the losses on the rest of my shorts.

I know, I know, I've been doing this for five years now, and made all the mistakes that could be made, learnt from most of them, there seems to be one final one to learn, and that is to close out losing positions immediately, without hesitation, repetition or deviation. All I had to do was to...

I am trading on charts and common sense, but it seems that the markets are determined to burn all the bears by not allowing them any pull back, they just steam ahead regardless. Oh well, it's only money, I am still short and will probably stay put for a little longer, there has to be a pull...

All valid points but I got a bit complacent after a good run and thought I would try my luck. In this business there is only one luck, of the bad variety. I am still short and watch the development with a mixture of amusement and bewilderement.

You bet it is :rolleyes:

after the strong rally yesterday it is very likely that there will be a pull back of some sort, I would expect about 50 points

I added at 7850, and now am waiting to see what happens next, I would close if if breaks out, and add if it breaks down, one way or the other I will reduce my position today, it is looking increasingly like a bad trade and has the potential to become worse

I have the same 7800 target for a pull back, but I would close half at 7810, just in case

I don't think the opening gap up was that predictable, it would have been influenced by what happened overnight in Asia, as it turned up the chinese market fell but by only 1.6% whilst the rest of the asian markets went up