Financials are leading to the downside...
Swing trade....
Started by
NAV
, Aug 08 2007 12:54 PM
13 replies to this topic
#12
NAV
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Posted 08 August 2007 - 02:44 PM
Closed all my ES futures around ES 1486 for about 15 points profit. Still holding 1/2 of my OEX puts, which i am in no hurry to close.
Edited by NAV, 08 August 2007 - 02:45 PM.
#13
arbman
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Posted 08 August 2007 - 03:20 PM
It is a hanging man in the hourly charts. It will probably retest the lows eventually, maybe not tomorrow, but eventually. I traded long up from the lows since I thought this first decline to the gap would be bought. I wish I sold short when I saw the rising VIX right away...
I still think that if it can not meaningfully decline in the next 3 days and tag 1520s instead next week, it can reach to 1600s by the Sep expirations after a small pull back after the expirations...
BTW, RUT was showing the least damage today during the decline in the last hour...
#14
rkd80
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Posted 08 August 2007 - 04:29 PM
It is a hanging man in the hourly charts. It will probably retest the lows eventually, maybe not tomorrow, but eventually. I traded long up from the lows since I thought this first decline to the gap would be bought. I wish I sold short when I saw the rising VIX right away...
I still think that if it can not meaningfully decline in the next 3 days and tag 1520s instead next week, it can reach to 1600s by the Sep expirations after a small pull back after the expirations...
BTW, RUT was showing the least damage today during the decline in the last hour...
the RUT responds very well to A/D. Strong A/D = strong RUT.
“be right and sit tight”
