loot

@XL127 I'm still learning but this looks to me like a textbook head and shoulders pattern, whats your take?

XL127
1
XL127 Feb 14, 16 4:48 PM

I am not great at technical analysis. I recommend Tim Knight at slopeofhope.com. He has a 15 min show on tasty trade that I watch daily where he looks at trends via charts. Hope the resource is helpful.

loot
loot Feb 14, 16 5:03 PM

Thanks, I asked since you have been shorting SPX and thought this would be a strong indication to do so yet again. This is the trace I am currently researching.

XL127
1
XL127 Feb 14, 16 10:13 PM

I've been focusing on staying out 7%. The short position was more an event where I didn't follow my rule than actively choosing to be short. Wish I could take more credit for insight/foresight. Overall the trend is bearish....my current positions are actually long SPX but only to about 2,000. You'll like Tim Knight's perspective on shorting market...he is sort of a perma-bear. Take care.

loot
1
loot Feb 14, 16 10:18 PM

awesome, thanks for the tip

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