Sitting at my SPX cash 1520 target
#1
Posted 25 July 2007 - 06:49 AM
The future is 90% present and 10% vision.
#2
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.
The future is 90% present and 10% vision.
#3
Posted 25 July 2007 - 07:56 AM
Edited by Teaparty, 25 July 2007 - 07:58 AM.
#4
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.
The future is 90% present and 10% vision.