3 replies to this topic

[hiker]

higher level better not a daytrade in mind will need to not move more than a fib amount calc SPY could easily go much higher on this bounce attempt...1473 SPX cash is doable at some point if a recovery bounce gets in gear ------- later update after post above: trade update and setup to watch here convergence of two data points d/t line on 1 min drawn off 1484 SPX late day high 200sma on 1 minute

Edited by hiker, 01 August 2007 - 08:47 AM.

[Drano]

Bravo, Hiker ! ! ! ! Congrats.

[hiker]

Ted Burge horizontals for SPX 1447 is being defended for now 1476 1447 1432 these are off his site from mos. ago...if they have changed, I have not looked lately..he usually does not change horizontal price analysis on the daily .618 retrace is 1437 approx time to be flat or long while 1447 holds..just my 2c..can always short a move below

Edited by hiker, 01 August 2007 - 08:53 AM.

[hiker]

also. 1448 was the closing basis 200day ema for SPX cash first try at 1447 horiz and 1448 200ema/sma ....is logical it would bounce on first try of this area.. what next? I continue to short bounces until proven otherwise...and I am betting very heavy in my trades....I could get caught in a stop out but one never knows till the trade is on....why not bet with the direction for now which is down..monthly weekly and daily on sells with major levels of support being taken out one at a time my levels for shorting take risk into account, so shorting bounces has danger not to be minimized at this stage in early a.m...shorts could get squeezed hard today 1473 to 1476 next?

Edited by hiker, 01 August 2007 - 09:09 AM.