ericklee64

short the Nasdaq Monday at resistance

CME_MINI:NQ1!   NASDAQ 100 E-mini Futures
Fundamentals are as bad as they can be. Trend is firmly down in Nasdaq with what should be fewer investers looking to buy the dips. However, the market hasn't given up yet. We are close to larger losses, particularly with continuing inflation concerns, real war possibilities for Nato, fallout from sanctions to our own economy and what seems imminent recession, bringing about stagflation as increased spending by the Government hasn't ceased. The technical and fundamental signals are in aligned for profits to short positions. Look for the Nasdaq to reach new lows this week from prior weeks. Cue on oil prices rising, short term treasury rates increasing (values falling on /zt) to confirm current bearish sentiment for /NQ. Do not sell short blindly while market is already falling! Rather, sell resistance and buy support (if you dare). As I was writing this, the evening session opened high. As it neard Thursdays opening levels, I sold short at 13390. Thats a great place to be if you can get it, in my opinion. It's just below resistance and a stop can be set to limit loss on a bump up. Sadly I took profit after 3 minutes at 13370 and then resold at 13370 for another quickie. I don't use real stops, just mental ones. Don't try this at home! I trade several hundred contracts each day and find that stops, while good for some, set many trades up for failure as the price spikes and then returns.

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