Poll on ES high
Started by
melonseed
, Mar 08 2010 01:43 PM
9 replies to this topic
#1
melonseed
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Posted 08 March 2010 - 01:43 PM
My take #2.
Trade safe.
#2
Architect
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Posted 08 March 2010 - 02:13 PM
Maybe Q is waiting for SPY to catch up (only half a point away now)...
This is intense.
#3
Architect
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Posted 08 March 2010 - 02:18 PM
Many shorts are waiting to cover at 115 (SPY), there may be another blowout / beartrap??
Could happen.
#4
IYB
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Posted 08 March 2010 - 02:30 PM
I would deduce from this poll that there are plenty of stops immediately above. Not a giant stretch to then speculate that some one (Gimme Shelter) may want to push 'em. 
"It's just a shot away"...
"It's just a shot away"...
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” ― Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds
#5
gismeu
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Posted 08 March 2010 - 02:50 PM
But what about the longs. Could one not argue that they might want to get out at 1150 or just above, before the next correction and in order to prevent that, the market will turn before SPX gets to 1150.
Makes any sense?
gis
If you can't buy Happiness, STEAL IT!
#6
melonseed
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Posted 08 March 2010 - 02:54 PM
It is actually highly likely. We're talkin' bout 8 pts in 1 1/2 days.
Trade safe.
#7
melonseed
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Posted 08 March 2010 - 02:57 PM
In fact if 1140 holds on I have serious doubts the market will see the highs even in April.
Trade safe.
#8
thespookyone
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Posted 08 March 2010 - 03:05 PM
Very simply, no.
#9
gismeu
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Posted 08 March 2010 - 03:18 PM
spooky,
what is your current EW count?
thanks, gis
If you can't buy Happiness, STEAL IT!
#10
thespookyone
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Posted 08 March 2010 - 04:19 PM
spooky,
what is your current EW count?
thanks, gis
Hey Gis-Three possibles right now, the action in the next two days should make it down to 2-then I'll post em. Currently 2 bullish counts, and one bearish that I have a hard time believing-but can not yet legitimately rule out.
