11 replies to this topic

[NAV]

Went long ES 1423. Like XD said yesterday, everyone and their granny is looking to go short on any pop. How many are looking to buy this fear ? If we have another swoon today, i will buy more. I will post my reasoning in a while.

Edited by NAV, 26 January 2007 - 01:25 PM.

[eminimee]

I'm joining you soon but with a tight stop...have a buy in at 1420 now with 3.50 point stop....

http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=2&dy=8&i=p67438202531&a=91454708&r=3751.png



....bought some at 1423.75...I'm getting a lift off signal. lol

[NAV]

Here's my thinking



There's a strong possibility that we are tracing a expanded flat wave 2 correction. The rally into SPX 1440 was a perfect bulltrap a.k.a wave B. The slamma jamma kind of posts come right near those tops. The wave c (yesterday's scary collapse ) while giving an impression of breakout failure is a perfect bear trap to reorient most folks thinking in the bearish direction and at the same time giving the necessary compression for a wave 3 to begin - sucking even the ardent bulls into shorting the bounces, if any rally begins here.

Again 1404 SPX should not be voilated for any reason. If that happens i will throw in the towel and acknowledge that a larger degree correction has begun. This decline has unloaded most of the passengers of the bull train express (except for da_cheif of course, who never unboards). I am taking a 1% risk. Just another trade.....

[maineman]

just keep this handy.....

[eminimee]

Nav...agree with up...unless 1414 is taken out (spx)..just has a few ways of moving up from here .......in the back of my head (and I know it's extra thinking that I don't need lol) is a low on FED day and GOOG earnings. If we close above 1422 today I'll be adding.

I know it's getting a bit silly when you get down to 1 min. charts Just a thought ...ED ?

http://stockcharts.com/c-sc/sc?s=$SPX&p=1&yr=0&mn=0&dy=1&i=p59745282332&a=89521332&r=429.png

Edited by Teaparty, 26 January 2007 - 01:46 PM.

[NAV]

EM, It's possible. But inconsequential if that happens, given my stop. But you know i am always scared of those last leg that never comes .

Edited by NAV, 26 January 2007 - 02:01 PM.

[IndexTrader]

There's a strong possibility that we are tracing a expanded flat wave 2 correction. The rally into SPX 1440 was a perfect bulltrap a.k.a wave B. The slamma jamma kind of posts come right near those tops. The wave c (yesterday's scary collapse ) while giving an impression of breakout failure is a perfect bear trap to reorient most folks thinking in the bearish direction and at the same time giving the necessary compression for a wave 3 to begin - sucking even the ardent bulls into shorting the bounces, if any rally begins here.

Again 1404 SPX should not be voilated for any reason. If that happens i will throw in the towel and acknowledge that a larger degree correction has begun. This decline has unloaded most of the passengers of the bull train express (except for da_cheif of course, who never unboards). I am taking a 1% risk. Just another trade.....

I doubt we unloaded most of the passengers. I think people have been going long all the way down. But I'm wondering...are your indicators still in bullish mode?

IT

[NAV]

There's a strong possibility that we are tracing a expanded flat wave 2 correction. The rally into SPX 1440 was a perfect bulltrap a.k.a wave B. The slamma jamma kind of posts come right near those tops. The wave c (yesterday's scary collapse ) while giving an impression of breakout failure is a perfect bear trap to reorient most folks thinking in the bearish direction and at the same time giving the necessary compression for a wave 3 to begin - sucking even the ardent bulls into shorting the bounces, if any rally begins here.

Again 1404 SPX should not be voilated for any reason. If that happens i will throw in the towel and acknowledge that a larger degree correction has begun. This decline has unloaded most of the passengers of the bull train express (except for da_cheif of course, who never unboards). I am taking a 1% risk. Just another trade.....

I doubt we unloaded most of the passengers. I think people have been going long all the way down. But I'm wondering...are your indicators still in bullish mode?

IT

We are coming out of a complex bottom on the hourly !

[airedale88]

Here's my thinking..........

..........

Again 1404 SPX should not be voilated for any reason. If that happens i will throw in the towel and acknowledge that a larger degree correction has begun. This decline has unloaded most of the passengers of the bull train express (except for da_cheif of course, who never unboards). I am taking a 1% risk. Just another trade.....

nav, that 1404 SPX cash is the 10 wk cycle low i don't want to see taken out. we're on the same page.

Edited by airedale88, 26 January 2007 - 02:42 PM.

[kc135a]

Went long ES 1423. Like XD said yesterday, everyone and their granny is looking to go short on any pop. How many are looking to buy this fear ? If we have another swoon today, i will buy more. I will post my reasoning in a while.

I am with you

I am 100% long in the trading account as of today. Looking for about SPY 144.80 to cover.

KC