Here's a new possible hourly A-B= C-D on SPY (same thing on DIA, IWM, etc.):
Not even a 50% retracement of yesterday?
Started by
unosuke
, Feb 11 2009 12:39 PM
3 replies to this topic
#1
unosuke
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Posted 11 February 2009 - 12:39 PM
I anticipated at least a 0.50 Fib retrace of yesterday's decline when I entered limit orders for SDS, DXD, TWM, DUG, & EEV. The last two were the only ones that hit, so I just went ahead and bought the first three. Should this market go higher I'll buy the second half.
Here's a new possible hourly A-B= C-D on SPY (same thing on DIA, IWM, etc.):
Here's a new possible hourly A-B= C-D on SPY (same thing on DIA, IWM, etc.):
Current Positions: Long EEV @ 40.29, Long DUG @ 24.66, Long DXD @ 59.62, Long SDS @ 72.70, Long TWM @ 61.84, Long QID @ 48.21, Long FXP @ 20.43, Long SSG @ 43.76, Short XOM @ 69.31, Short AAPL @ 117.52
#2
unosuke
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Posted 11 February 2009 - 01:14 PM
Some bulls may wonder a few weeks from now what "signalled" the sell-off was for real.
Here's my answer:
Here's my answer:
Current Positions: Long EEV @ 40.29, Long DUG @ 24.66, Long DXD @ 59.62, Long SDS @ 72.70, Long TWM @ 61.84, Long QID @ 48.21, Long FXP @ 20.43, Long SSG @ 43.76, Short XOM @ 69.31, Short AAPL @ 117.52
#3
tommyt
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Posted 11 February 2009 - 03:16 PM
still a reasonable chance we get a counter up into the SPX 842-848 tomorrow. They flushed out a number of longs earlier on the marginal new low and reverse gig.
#4
gm_general
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Posted 11 February 2009 - 04:06 PM
The elastic rules don't seem to apply in a bear market, a big daily move here is most often matched with a flat follow-up day. For instance, Mardigras Monday is followed by Flat Tuesday. 
