Friday, February 3, 2012

Longs are closed, Short ES at the B100

Last Friday I wrote

 Back to Business

If you are a Trader, you are a highly paid risk manager.     If you are not highly paid, maybe you need to look at the risk management, LOL.

The risk right now is to the upside.

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Opened my charts to a perfect hit on the B100 old channel line.
After the gap up on "Jobs Report", probably lots of people jumping on long.

HBB needs to b'slap them and take their money.     Good chance we tank down to at least 1325 just based on Fib, and to wipe out all who went long too late.

Intermediate term I am agnostic right now, no time to play this too complicated.

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