we are now at a very critical juncture...many things have been hammered and are oversold, not extreme in the indices, but select situations. Nerves are getting brittle, and any move beyond 1% tomorrow could lead to lights out conditions. The expo put unwind is in place and is adding to it all. For the ST, I am covering any remaining shorts, and gonna buy on any dip down to 12750, stop 12699. Watch those foreign mkts tonite for clues.
http://stockcharts.com/c-sc/sc?s=$INDU&p=D&b=3&g=0&i=t67012688854&r=5891.png
D-DAY at hand
Started by
tommyt
, Aug 15 2007 03:51 PM
3 replies to this topic
#2
hiker
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Posted 15 August 2007 - 04:04 PM
what if Dow does not move below the 12795 Feb high? the 2006 to 2007 support t/l is nearby.
are you going to wait for lower prices to buy?
#3
tommyt
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Posted 15 August 2007 - 04:18 PM
i am a buyer of contained weakness tomorow..otherwise have to wait for other evidence. Its panic conditions, volatility should pick up...and its expo week. Quite a mix. GS, I mean the PPT, better step forward on anything bad tomorrow and start buying all index futures, and maybe their own stock. I'll try and dig up the article on the '87 crash, and the Tuesday morning after...the mysterious buyer who stepped into the XMI futures pit and started buying after the up open failed...some say to save the day.
#4
hiker
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Posted 15 August 2007 - 04:20 PM
btw, 12735 is .618 retrace of the move from the March low to the 2007 high.
Edited by hiker, 15 August 2007 - 04:22 PM.
