Anybody short right here?
#1
Posted 14 August 2007 - 04:02 PM
#2
Posted 14 August 2007 - 04:07 PM
#3
Posted 14 August 2007 - 04:07 PM
It's the illiquidity, stupid !
#4
Posted 14 August 2007 - 04:20 PM
Mark S Young
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#5
Posted 14 August 2007 - 04:21 PM
FWIW for SPX -
1427.31 is the .38 retracement of the 1219 to 1555 price advance ....during 2006 to the recent 2007 high.
this convergence of data items near 1427 could be an alert for a potential support area that may hold, now that approx 1427 to 1432 area has been tested on 4 days out of the recent 8:
1. the rising tops trendline on the long-term weekly resides nearby
2. 1432 major horizontal from long-term daily
3. the .38 retracement noted above (hardly a bear market yet...this is a reasoned and to be expected retracement of any long-term price move...yes, alerts are going off that early warning evidence of something like a trend change may be in the works...but not confirmed YET)
which support are you calling broken, saltlake?
for SPX near-term S/R from recent action are:
1460
1450
1440
1427
1421
weekly
Edited by hiker, 14 August 2007 - 04:25 PM.
#6
Posted 14 August 2007 - 04:31 PM
#7
Posted 14 August 2007 - 04:48 PM
This is looking like a bear market for the time being
Woha.. the bull market that started in October 2002 is over then? that's a very wild forecast indeed. Dont put your neck out to far, you might get your head chopped off.
#8
Posted 14 August 2007 - 05:02 PM
#9
Posted 14 August 2007 - 05:08 PM
#10
Posted 14 August 2007 - 05:28 PM
Short since 7-20-07. {SPX 1550} As said, I'll leave the bounces, projections, counts, counter-trend trading, day trading, and the all the rest to others more capable. For me, simple is best. The trend is down. The trade is short. Sitting tight. DFor the record, we're out and short based on this long-delayed, yet very real sell signal. As most are aware, divergences have become massive over recent weeks- as the seemingly never ending series of buy signals amazed even me. I believe that this long set-up is likely "predicting" a pretty severe sell off. We'll see.
Good weekend to all, D
Edited by IYB, 14 August 2007 - 05:36 PM.