Tuesday, August 20, 2013

Looking ugly after hours...

The inability of the market to hold the backside of the ST trendline shown below has caused me to close out my ST long and get back to the short side, once again. The steady drift lower after hours has the making of a potential nasty gap lower in the morning that should beget more selling once the market opens for regular trading.  I have stops placed @ 1650.50 and will consider getting long again if this turns out to be another head fake. Short from 1647.50

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