CURRENT SUMM INDEX: 1902.106
PRIOR SUMM INDEX: 1955.320
Money was taken out of the market yesterday. FWIW
Last chance to get out....
Started by
NAV
, Jun 15 2007 04:57 AM
13 replies to this topic
#11
skyymaster
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Posted 15 June 2007 - 08:13 AM
People should not be afraid of their governments. Governments should be afraid of their people.
Remember this day, men, for it will be yours for all time.
Remember this day, men, for it will be yours for all time.
#12
NAV
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Posted 15 June 2007 - 08:36 AM
All I know is that I'm glad I'm not short a near the money SPX Call spread. Ouch!
Mark
Mark,
What are you doing with your IT shorts ? Holding or dumping ?
#13
OEXCHAOS
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Mark S. Young
Posted 15 June 2007 - 08:41 AM
I have to hold until or unless we turn my stuff back up. They either get us, or they don't. [shrug]
My view is that we've not completed the correction and thus may have another shot down. I've been looking to short the futures for a day or even a swing trade, but volume keeps waving me off.
This morning, so far, we're seeing little volume, so it's probably a good short set up. I'm watching. If they don't give it to me, I'm going fishing and will look at it on Saturday.
Mark
Mark S Young
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#14
OEXCHAOS
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Mark S. Young
Posted 15 June 2007 - 08:52 AM
Mark,
what is your FF for ES? moving back up into the rising price channel, or bounce back now that it has touched the lower channel boundary on the daily in today's premkt? if you have one yet...thanks, and happy fishing...hope you managed some stream time this week.
I think we'll hang on or test the channel(s) today. I note the S&P loves to do that. I just don't see anything that says that the correction is complete, however. Volume supports that. Today, we'll see if volume will show some near-term weakness.
I made it to the tailwaters and it was beautiful. Saw lots of tree and cliff swallows, a beaver, and a couple herons. The fish were roiling the surface and I threw everything at them but an engraved invitation. I think it was very small (20?) caddis suspended in the surface film, which is hard for me to duplicate and still see. I wasn't willing to tie on two flies in order to have a strike indicator, so I knocked off and enjoyed a bottle of wine stream side with my wife.
The catfish, however, are very active right now. The warm water streams are wonderful right now, and it's fun to hook into a 3 or 4 lb. catfish on light fly tackle.
btw, note 42.24 on the HANS weekly..being tested iin premkt on upgrade
Nice break out. I wish I'd seen it before. Nice setup.
Mark
Mark S Young
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