Let’s book our profit in the dow jones index here at 24650.00, the move up looks very jaggy and not a symptom of a further uptrend above. Plus, I only took it to book when it made a new high, which it has.
We won't make the same mistake that we made the last time in crude oil, which made the market hit our stops before we could hold on to the shorts in crude ( Yes, the market is still bearish).
Let's short 25% here at 93.00 in the US Dollar Index.
We will build our shorts as the market progresses, hopefully further down from here.
Alright, the market will never do exactly what you expect, but the WTI Oil futures market has touched a decent level and fallen off from the 57.50’s and appears to fail here, so we enter the remaining 25% shorts at this price, 57.15, as of 1:30 pm EST, December 8, 2017. I was looking for a decent place to enter more shorts, and this seems like as good a price as any.
This is inline with our short expectations. The stop loss being at 58.00, for both 56.00 (75% short), and 57.15 (a further 25% here)
Oil has fallen despite a huge bullish inventory.
This is typical in a bear market, or at the start of one.
Short oil with 75% of your net account that you intend to trade oil.
I think, I have waited quite a bit to get in on the action on the Dow Jones Index.
This should be a safe trade netting us a few dollars.
Long Dow with 25% of your money at 24182.00
It's still stupid to short the Dow, although not a stellar trade, piggybacking on the trend, should still net us some money.