So, as the news goes, the limit on short selling includes only 799 financial companies. Here's the list.
I have to hand it to THE Fly once again. When news of the short sale rule was first being floated he reversed ship and (among other re-shuffling) bought a boatload of C ("more than 100,000"). If he took some off the table at the open he was looking at a 22% gain. Not sure what he did at the open, but it's food for thought on how not to behave in this sort of environment. A lot can be said for someone who can reverse their opinion on a market and follow suit with their money to back it up. One can't hold too sternly to a directional bias in these markets; and when news comes out you have to act in an unbiased manner to protect and grow your bottom line. Live and Learn.
On a side note. The easy money today was made shorting the vast gap at the open. Not that I made the easy money, but it's good to preserve these tidbits of information for future reference.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
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