Going long
Started by
eminimee
, Jan 26 2007 11:11 AM
7 replies to this topic
#1
Posted 26 January 2007 - 11:11 AM
this will be mostly a hedge against puts but a bit more so it will turn out to be a small long position. Thought I should make that clear.
#2
Posted 26 January 2007 - 11:30 AM
Critical point here
Qui custodiet ipsos custodes?
#3
Posted 26 January 2007 - 11:52 AM
this will be mostly a hedge against puts but a bit more so it will turn out to be a small long position. Thought I should make that clear.
What's the key to 1419.50?
IT
#4
Posted 26 January 2007 - 11:53 AM
Look at the bounce in Treasuries -- more than just shorts taking profits -- smart money wants to be long over the weekend. Lots of rumors about Iran, etc. If the ES trade you're contemplating leaves you long over the weekend, 99% chance you'll be fine -- 1% chance your stop gets filled below a gap in fast market conditions caused by an "event." Is the upside that attractive?
Da nile is more than a river in Egypt.
#5
Posted 26 January 2007 - 11:56 AM
Guess we broke that critical point, this could be the next bus stop.
Qui custodiet ipsos custodes?
#6
Posted 26 January 2007 - 12:44 PM
Critical point here
Do you see the potential broadening top? Is so, one more trip up into early to mid February.
KC
#7
Posted 26 January 2007 - 12:53 PM
Do you see the potential broadening top? Is so, one more trip up into early to mid February.
KC
Yes I think that's a distinct possibility.
And I also see the possibility that the top is in.
I want to see some fear before I take this current short campaign off.. so far I'm not seeing any fear.. in fact, NDX/SPX relative strength increased today, which implies aggressive dip buying mentality to me.
This is either a show of strength, or its going to reverse rather quickly. My guess is the latter, which is why I shifted to NDX shorts.
Yesterday, the 120 point dow drop didn't even make headlines on marketwatch or thestreet.com... so, no fear yet.
Qui custodiet ipsos custodes?
#8
Posted 26 January 2007 - 01:25 PM
Jaw...it's more to protect put profits than confidence in the long side here...
IT. 1419.50 is where it should be when spx hits TL support at 1415ish
..and a close today over 1422 spx would be bullish at least for a few days next week.