Thursday, January 21, 2010



I will always back the home team when things look dismal. Sorry charts are in reverse order.


GS exit













GS entry
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2 comments:

joshua said...

that is incredible timing. i don't know how you were able to gauge that long trade. and then in classic F&G style, you exited, stalked it, and shorted. well done, and thanks for sharing with us.

9:54 p.m.
Scott said...

J- Thanks but if anything I was a bit late on the entry. The short game was clearly not going to work as demonstrated by that 14:25 candle that closed above the previous little bunch on candle resistance level. Since those fine, down to earth gentleman at Goldman Sachs have the ability to paint their tape anyway they see fit I also thought it was high time that they try to put the hurt on all the daytraders and their dogs who were expecting it to drop big. You saw the result of the short covering.
I always try to be very close behind the market movers. I don't want to be standing at the end of a long line trying to figure out if theres going to be any bread left in the bakery when I get there, so to speak. It's a question traders need to ask themselves - where in the information chain am I.
AS far as incredible timing goes, the candles told most of the story and are there for anyone to see. You have to see and comprehend with an open mind, then act. Anyone can do.

9:24 a.m.

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