Double Bottom, V Turn, Positions, Advancing/Declining

Double Bottom, V Turn

Okay, I was wrong about the Triple Bottom. It actually started out almost as a double bottom, but did not break through the mid-point going up, but turned back down.

I thought the articles here were good, and can explain much better than I can do.

To briefly summarize, though, basically the V turn was to push all the sellers out of the way. This is the short sellers covering. Similar for upside down V.

I apologize for giving wrong information earlier. There is still so much for me to learn.


My Positions:

AAPL (135), LEH (60), CME (570) calls.

BIDU balloon strangle (230C/160P).

That's it. I do have stops placed for each.

AAPL at $131
LEH at $57.50
CME at $567, $1 trailing stop @ $581

BIDU, just letting this ride since I'm so far OTM.


This basically is used to see how the market (S&P) will open up. This does not mean that if it opens lower, that it can't go higher later. Today was a good example of that where it was 1:13 in favor of Declining, so highly negative. But, the market was bullish today.
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