Posted by Tom C.
Following my prescient post on the general markets Monday, the markets sold off.
You could throw a rock and find good shorts yesterday and today. One of my better trades was RIG. It gapped up and fell to the 50% retracement from the previous day's low to the OR high. It bounced and then rolled over and fell back below that level. Price formed a "hanging man" type candle, and I shorted on a break of that bar's low. I covered the short at the previous day's low.
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