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SPX

Started by NAV , Mar 04 2009 09:43 AM

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6 replies to this topic

#1 NAV

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Posted 04 March 2009 - 09:43 AM

710 area right here is a good short with a stop of 4 points. If 714 is taken out, then the next short area is 735. I bought some SDS.

Edited by NAV, 04 March 2009 - 09:44 AM.

"It's not the knowing that is difficult, but the doing"

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#2 NAV

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Posted 04 March 2009 - 10:21 AM

Stops just above todays high. If wrong i will lose 1 SPX point.

Ok, back to my limping around the house business.

Edited by NAV, 04 March 2009 - 10:22 AM.

"It's not the knowing that is difficult, but the doing"

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#3 rkd80

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Posted 04 March 2009 - 10:31 AM

Stops just above todays high. If wrong i will lose 1 SPX point.

Ok, back to my limping around the house business.

I am with you on this trade, seems like shorting bounces is the way to go for now.

“be right and sit tight”

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#4 thespookyone

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Posted 04 March 2009 - 10:45 AM

The 733-735 area looks great to me, as well.

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#5 NAV

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Posted 04 March 2009 - 10:47 AM

Stops just above todays high. If wrong i will lose 1 SPX point.

Ok, back to my limping around the house business.

I am with you on this trade, seems like shorting bounces is the way to go for now.

Yesterday was a small change day on the MCO. So it's gonna be a volatile all-over-the place kind of a day, with eventual resolution in the direction of the trend. Placing stops is tricky here. I think they are trying a stop run here before the flush to the downside. I am moving my stops back up to SPX 714.

Edited by NAV, 04 March 2009 - 10:53 AM.

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#6 rkd80

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Posted 04 March 2009 - 11:09 AM

Certainly possible, I had a bunch of puts that I just closed at around 711 both iwm and spy, just does not feel comfortable. gdx shorts are still on, which appear to be compeltely inverse of the market. At this rate it could run to the previous gap down at around 724ish? Uncomfortable.

“be right and sit tight”