The rally i called yesterday has nicely done its job, retail bears giving up as evident from EPC....
also my target (ES 1285) has been archived (top tick was 1285.25)
I expect this to be an important pivot and SPX should make new bear market lows in the second half of september.
Until then, going back to my cave, wish you all good luck...
PS: I will come back near the big bottom.
The top is in
Started by
A-ha
, Aug 27 2008 12:34 PM
12 replies to this topic
#2
MacRo
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Posted 27 August 2008 - 12:36 PM
would like to see it fail right here some kind of nasty. I think RL is the sweetest ticket to ride it down, but it's hard not to want to sell everything...
Edited by MacRo, 27 August 2008 - 12:37 PM.
#4
saltlake
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Posted 27 August 2008 - 01:17 PM
Ok, I put shorts back on at 80 with a stop above the highs today.
#5
eminimee
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I don't care who's fur is flying...
Posted 27 August 2008 - 01:27 PM
Ok, I put shorts back on at 80 with a stop above the highs today.
If we hold support at 79.50 ... good for at least another high today me thinks..
Edited by Teaparty, 27 August 2008 - 01:29 PM.
#6
eminimee
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- TT Member
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I don't care who's fur is flying...
Posted 27 August 2008 - 01:36 PM
all those who shorted between 1285.25 and 1279.50 are going to be short squeeze fuel....is my guess.
Edited by Teaparty, 27 August 2008 - 01:37 PM.
#7
IndexTrader
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Posted 27 August 2008 - 01:38 PM
I'd expect another high as well. Maybe a gap fill.
IT
#8
saltlake
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Posted 27 August 2008 - 01:39 PM
T, I think your right. This is a totally emotional trade and I will likely pay the price. might even be a scorch into the close
#9
A-ha
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Posted 27 August 2008 - 02:20 PM
one should adjust his/her expectations based on the underlying conditions if he/she has any clue at all
#10
SemiBizz
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Volume Dynamics Specialist
Posted 27 August 2008 - 02:44 PM
QID will be under 38 by Friday... perfect spot to buy for what's going to happen next week.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
