12 replies to this topic

[eminimee]

http://stockcharts.com/c-sc/sc?s=$SPX&p=60&yr=0&mn=6&dy=27&i=p84781333250&a=93045759&r=8647.png

[hiker]

that 1419 day low to S1 at 1421 is being defended. thanks for the chart, Tea. FWIW, the action in NYA has me staying on the short side...primarily the sustained move below 9250 horizontal. I have no idea where I will cover today's entry, but will watch the usual timeframes

Edited by hiker, 15 August 2007 - 01:58 PM.

[eminimee]

like to buy 1418 es with a tight stop

[hiker]

am not buying anything countertrend here yet...will just stay short till the config of the 5 and 15 sma's on the 3 min or 15min reverse..the 60min in this environment is likely too slow... I said last night at TW I would sit out a potential short of a decline to 1390's cause of this potential reversal you are looking for...you are usually correct.

[norton]

like to buy 1418 es with a tight stop

----------------

Hi Mini, I mentioned yesterday that 1418 sept es should be right about the level of the
cash NYSE tests its 9200 whole number and previous support level. Youmast pointed
out also that he is looking at 1414 SPX. Previous serious corrections were around 100
SP points, we are now over that, a good thing given the impetus added of subprime
publicity to add more to a normal correction. I agree, if we trade at 1418 or so and
the cash NYSE looks at 9200, I will look for VST reversal indications to go long.
Its a good place and time for church to be out for the bears for a while, maybe nothing
or maybe a good wicked rally. Either way, should be in front of us fairly soon?

Edited by norton, 15 August 2007 - 02:31 PM.

[eminimee]

I'm hit Norton...now I'm worried about the over night stop hunters. lol...that's if I don't get taken out before hand....stop 1415.50 make that 14.50

Edited by Teaparty, 15 August 2007 - 02:35 PM.

[gorydog]

I'm hit Norton...now I'm worried about the over night stop hunters. lol...that's if I don't get taken out before hand....stop 1415.50

make that 14.50

I just bought puts - The bottom must be in....
GD

[eminimee]

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[sglasson]

i thought you went golfing Tea? sure wish i had, looks like i was premature in going long r2k today - mkt appears to be quickly entering into correction mode - how low will she go??

[hiker]

S2 at SPX 1410/1409 just covered SPY short 140.85 fills and above still holding some levereged shorts