1% Correction is coming our way. It will wipe out 10 to 15 S&P points. It will be scary. Be brave. It should start around these levels.
Denleo
1% Correction
Started by
denleo
, May 21 2007 11:56 AM
11 replies to this topic
#2
89S10
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Posted 21 May 2007 - 11:59 AM
Is this based on a intuition,a comglomeration of indicators, a single magic bullet indicator?
Because S&P cash exceeded the previous closing high (so I am told)?
#3
Tor
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Posted 21 May 2007 - 12:04 PM
Maybe we will see a mini parabola!
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#4
denleo
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Posted 21 May 2007 - 12:06 PM
It is based on lack of short-term momentum, short-term internal divergences, intuition and the fact that S&P is trading above all time closing high. So a 10 point correction would be a buying opportunity.
Denleo
#5
Mr Dev
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Posted 21 May 2007 - 12:18 PM
It will be scary. Be brave. It should start around these levels."
It is based on lack of short-term momentum, short-term internal divergences, intuition and the fact that S&P is trading above all time closing high. So a 10 point correction would be a buying opportunity.
Denleo
If only 10points that would then put it at less than a 1% correction......and those really are not that scary.
Edited by Mr Dev, 21 May 2007 - 12:18 PM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#6
Bandit
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Posted 21 May 2007 - 12:27 PM
1% Correction is coming our way. It will wipe out 10 to 15 S&P points. It will be scary. Be brave. It should start around these levels.
Denleo
Thanks- For the heads up!! I will be prepared to ride it out as I can not day trade in my 401K accounts. I still am looking at 6/5 for some kind of top.
Bandit
#7
denleo
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Posted 21 May 2007 - 12:32 PM
10 to 15 points is the most bears can do. So 1% or 15 points is what 10% used to be many years ago.
Denleo
#8
Mr Dev
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Posted 21 May 2007 - 12:35 PM
10 to 15 points is the most bears can do. So 1% or 15 points is what 10% used to be many years ago.
Denleo
Huh ...the bears can do?
So if People start selling and a scary .75%-1% decline is seen then,..they are...bears?
Yes a 15 point correction was 10% scary move when the S&P was at 150. points,..and yes that was many years ago.
How does this relate to anything today ? I'm sorry for not following you but I'm trying to understand your point.
Edited by Mr Dev, 21 May 2007 - 12:39 PM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#9
denleo
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Posted 21 May 2007 - 12:45 PM
My point is that more than 15 points right now would be a huge surprise to me. It would feel like a bear market. Spooz just dropped 3 points while we were talking. It is already feels oversold. 
Denleo
Denleo
#10
GOOSE2
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Posted 21 May 2007 - 01:55 PM
1% Correction is coming our way. It will wipe out 10 to 15 S&P points. It will be scary. Be brave. It should start around these levels.
Denleo
FWIW.........ES 1534 is an important number we will not just blow thru it. Still no reason to get short however.JMHO
