no bull rant needed: today's candlestick says it all

WHEW!!!!! i was :sweating bullets: when i got back from the coast and we made that new low late, i was indeed a wee bit worried. i would much appreciate a candlestick read by the folks who pay close attention to that interesting approach. comments?

comment? nothing pisses me off more than when some blip sits down at the poker table , doesnt know how to call doesnt know how to raise doesnt know how to order a drink and then beats me on the river with his 7 -2 offsuit when i had pocket pairs..... now this has nothing to do with you....but thats the hazards of this game with the gov involved ...today was nothing more than complete luck ....plain and simple

Comments?.. ...I suggest you go and clean up and change your underwear before proceeding on the board.... ...Pretty smelly....

My comment, LOL? I closed my puts at 81.31 as posted on Rogers thread below, and took a nice PROFIT. Because I am neither perma bull or bear I made money, and am not deeply underwater and in need of changing my drawers. Since I trade for cash, and I got it-I might have more true reason to rant than some-but why bother, I'm a trader. I view todays action as nothing more than part of a retrace, which I expected-or I would not have sold my puts when I did. I am still much more interested in trading with the trend-than against it.

Comments?..
...I suggest you go and clean up and change your underwear before proceeding on the board....
...Pretty smelly....

lol....nice one.

TP, what s your take on this bounce? Is it just a bounce to take us maybe to 870 again before a good drop below 800 or you think 800 will not break for now?

My comment, LOL?
I closed my puts at 81.31 as posted on Rogers thread below, and took a nice PROFIT. Because I am neither perma bull or bear I made money, and am not deeply underwater and in need of changing my drawers. Since I trade for cash, and I got it-I might have more true reason to rant than some-but why bother, I'm a trader. I view todays action as nothing more than part of a retrace, which I expected-or I would not have sold my puts when I did. I am still much more interested in trading with the trend-than against it.

i missed covering my es short from friday by three points.....

nice trade btw

make that ... a good day, then, to repeat my motto: "if you're gonna be dumb, you had better be lucky."

Edited by humble1, 12 February 2009 - 04:46 PM.

Comments?..
...I suggest you go and clean up and change your underwear before proceeding on the board....
...Pretty smelly....

lol....nice one.

TP, what s your take on this bounce? Is it just a bounce to take us maybe to 870 again before a good drop below 800 or you think 800 will not break for now?

Frankly...I have no idea, we could bounce around inside the wide tri I"ve got marked in blue, would be bullish above 870...but if you want to be a real bear....use this count. Humble has me on ignore thank goodness...the count would dirty another pair of underwear..

http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=3&dy=0&i=p66983937280&a=79672211&r=275.png

TP thanks. humble has me on ignore too....lol

H1, The daily chart of the S&P 500 shows a hammer today. It refuses to break below 804 (most recent low) in spite of persistent bad news. Look at the daily P & F chart in Stockcharts. Right at support. For an intermediate trader (weeks to months), this is a good place to add to longs. If it closes below 800 (especially on a weekly basis), get out. Regards, Dale