We’re beginning to move into the short side today after patiently waiting for the corrective structures to unfold. New positions at work in FB and CVX. Also, I’m doing a video tonight for questions, so If you have one drop it in the comments below!
Friday morning, 9:00 AM – Let’s take your questions!
Thursday night Feb 15th at 5:00 PM EST.
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Olympics: You coulda taken them…
First, I got the text on FB at 1:19. Got the text on CVX at 3:37. Thought you would want to know timing…I’m in Philadelphia area (Super Bowl Champs!).
For those looking to short stock indices S&P, DJIA, NDX and RUT (not using options), can you give us the levels where we are wrong to be short? Where to cover.
Enjoying your work.
Thank you
Wave 2 or B? NDX has retraced almost 78.6% – Wave 2 retraces normally 50% – 61.8%. Is this already the killer criteria for Wave 2 and B is it? I looked at the NDX as it lead all the way up!
HI Christian,
Answered your question in the member video! NDX is at the 78.6%, but remember that SPX and RUT are at 61.8% so still possibly a corrective rally.
Todd.
A trading question (not Fib or EW). You went short RTY (RUT futures) today with a stop loss of 1550. Do you close the trade when 1550 is touched, or do you wait for the price at closing?
Hey Rick – No, i just put a stop at $1550, which was triggered 2 unfortunately! It ran just 2 more points and then collapsed. So close.