Over due

it has been holding over due a correction for the CSCO. Now it's out of the way so down we go....

it has been holding over due a correction for the CSCO. Now it's out of the way so down we go....

Added shorts on ER2.

it has been holding over due a correction for the CSCO. Now it's out of the way so down we go....

Added shorts on ER2.

Hey red,

in the last few days the Russell has been much stronger than the SPX. Would you happen to know why?
They do not always go totally in synch, but the last few days I found the gap to be unusual wide.

thanks, gis

it has been holding over due a correction for the CSCO. Now it's out of the way so down we go....

Added shorts on ER2.

Hey red,

in the last few days the Russell has been much stronger than the SPX. Would you happen to know why?
They do not always go totally in synch, but the last few days I found the gap to be unusual wide.

thanks, gis

gis: I don't have an image upload provider that's why I usually don't load a chart on the board assuming everyone has access to stock charts. Take a look at the RUT daily and i see that bearish wedge on the RUT daily is bothering me and it almost got to the tip of it. RUT will not escape the correction so I shorted it before it has down much and still has lot of fat.

Edited by redfoliage2, 07 May 2008 - 11:27 AM.

I'm thinking we could be testing the recent highs on ES/SPX by the end of the day...I want to see today's lows hold or at worst 1406 ES hold though....

Edited by Teaparty, 07 May 2008 - 11:43 AM.

I see SPX 1396 in the afternoon or tomorrow, which is the first meaningfull support and needs to hold for a full-scale down.

Edited by redfoliage2, 07 May 2008 - 12:10 PM.

I see SPX 1396 in the afternoon or tomorrow, which is the first meaningfull support and needs to hold for a full-scale down.

It should be "needs to hold OR a full-scale down" in my previous post.

I see SPX 1396 in the afternoon or tomorrow, which is the first meaningfull support and needs to hold for a full-scale down.

It should be "needs to hold OR a full-scale down" in my previous post.

Folks: This looks a nasty one and the first support at SPX 1396 may not hold.

I see SPX 1396 in the afternoon or tomorrow, which is the first meaningfull support and needs to hold for a full-scale down.

It should be "needs to hold OR a full-scale down" in my previous post.

Folks: This looks a nasty one and the first support at SPX 1396 may not hold.

Okay, it did not hold. Now the next support is at SPX 1370 area and looking at the indicators this nasty downside looks just the beginning.