My strategy this juncture is to buy a decent decline. Maybe it will happen by end of the week.
I still see upside in this market, and my counter trend trade short I missed, and maybe too late to get on board.
On the flip side, if we stabilise and then the bounce is mediocre, then I would have to consider that IT trend changed to DOWN, but that is not my core thinking at the current time.
Bye for now.
Sitting at my SPX cash 1520 target
Started by
Tor
, Jul 25 2007 06:49 AM
3 replies to this topic
#1
Tor
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- Traders-Talk User
- 7,647 posts
Member
Posted 25 July 2007 - 06:49 AM
I dunno
My strategy this juncture is to buy a decent decline. Maybe it will happen by end of the week.
I still see upside in this market, and my counter trend trade short I missed, and maybe too late to get on board.
On the flip side, if we stabilise and then the bounce is mediocre, then I would have to consider that IT trend changed to DOWN, but that is not my core thinking at the current time.
Bye for now.
My strategy this juncture is to buy a decent decline. Maybe it will happen by end of the week.
I still see upside in this market, and my counter trend trade short I missed, and maybe too late to get on board.
On the flip side, if we stabilise and then the bounce is mediocre, then I would have to consider that IT trend changed to DOWN, but that is not my core thinking at the current time.
Bye for now.
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#2
Tor
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- Traders-Talk User
- 7,647 posts
Member
Posted 25 July 2007 - 06:59 AM
I dunno
My strategy this juncture is to buy a decent decline. Maybe it will happen by end of the week.
I still see upside in this market, and my counter trend trade short I missed, and maybe too late to get on board.
On the flip side, if we stabilise and then the bounce is mediocre, then I would have to consider that IT trend changed to DOWN, but that is not my core thinking at the current time.
Bye for now.
To add, with some ST support levels now surrendered the correction likely has further to run, probably intot he first week of August, which will give rise to a chance to enter longer term longs with more attractive R/R ratio.
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#3
eminimee
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- TT Member
- 14,307 posts
I don't care who's fur is flying...
Posted 25 July 2007 - 07:56 AM
What do you mean by "sitting at the 1520 cash target"? We closed at the 1511 area...do you mean with futures up that we'll be around 1520 spx on open?
Edited by Teaparty, 25 July 2007 - 07:58 AM.
#4
Tor
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- Traders-Talk User
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Member
Posted 25 July 2007 - 08:01 AM
What do you mean by "sitting at the 1520 cash target"? We closed at the 1511 area...do you mean with futures up that we'll be around 1520 spx on open?
http://www.traders-t...showtopic=72986
Yes, as I wrote the SPX cash was 1520. Still at around that level now.
Edited by Tor, 25 July 2007 - 08:02 AM.
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
