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$SPX Took Out $918

Started by U.F.O. , Jan 02 2009 11:46 AM

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20 replies to this topic

#1 U.F.O.

U.F.O.

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Posted 02 January 2009 - 11:46 AM

The short squeeze is on. U.F.O.

"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
~Benjamin Franklin~

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#2 humble1

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5,959 posts

Posted 02 January 2009 - 11:52 AM

and the way it is sitting just under is a classic sign that no real sellers are around. that was a great entry you made. i'm in at close to the same level but i have had to sweat it out for about 12 weeks, LOL.

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#3 U.F.O.

U.F.O.

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5,605 posts

Posted 02 January 2009 - 11:57 AM

I'm thinking about where to exit right now. I think $SPX tests $950 on this leg. U.F.O.

Edited by U.F.O., 02 January 2009 - 11:58 AM.

"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
~Benjamin Franklin~

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#4 humble1

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Posted 02 January 2009 - 12:03 PM

i'm in until the solar eclipse on 1/26/09, fwiw. the high spx print then will be of great interest and provide much Price Tree info. in a while i will post some of my worksheet in the fascinating historical connections to the 1/26 solar. it's only for crazy people or those who want to go crazy.

Edited by humble1, 02 January 2009 - 12:05 PM.

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#5 hiker

independent trader

TT Member*
12,118 posts

Posted 02 January 2009 - 12:05 PM

Mole's SPX chart version with what he calls the "zero" indicator at the bottom -

http://evilspeculato...m/zero/zero.png

his site where the link is found

http://evilspeculator.com/

I know a smart guy like you likes to see the creations of others. He works hard to refine his system.

best to you, UFO.

Edited by hiker, 02 January 2009 - 12:06 PM.

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#6 U.F.O.

U.F.O.

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Posted 02 January 2009 - 12:06 PM

Do it humble1. My NY's resolution is to open my mind to new avenues and possibilities. U.F.O.

"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
~Benjamin Franklin~

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#7 inamosa

Patterns-based Trader and Investor in ETFs and Futures

Traders-Talk User
1,638 posts

Posted 02 January 2009 - 12:20 PM

$OEX is touching the 50-day EMA (439) We should see a pullback here in the next couple of days to around 420-425 After that pullback, if this is indeed a real rally, we should roll right over the overbought signals Otherwise, look out below

Edited by alysomji, 02 January 2009 - 12:21 PM.

"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months