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Reversal

  1. redabyss

    1,383 Posts.

    Was lucky enough to be able to get out of Oct BHP puts near open for 50% profit, because they are too shortdated and I took a caning last weekend on Oct warrants.

    Then the puzzle of whether to short the closing rally which is the first chance we have had on most stocks. Ended up shorting NAB, and BHP again Nov dated, since its risky not to be short at the moment. But looking at charts after hours, saw we have had a low volume reversal on many key stocks, though you cant see it on the broader market. Europe followed thru with gains (not surprising after 6 down days) and it seems I am premature with the new shorts.

    Looks like a couple of up days coming up which should be a good chance to get set, as there is still much gloom and chart negativity to wash out before we get a proper reversal.

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