3 replies to this topic

[ogm]

"and buy the way.. they are real and they are spectacular" Solid 10 to 1 upside day and high put call. gotta love it.

Edited by ogm, 17 August 2007 - 02:39 PM.

[hiker]

would you say it would be a mistake to short SPY here for an overnight trade? at or near the 200day sma -145.38 price with the SPX major horizontal at 1447 I assume the internals and the 60min break out of the falling wedge you posted trump R in your view? just curious, cause most here seem to think it is too early to attempt to short..wait for Monday is what I have seen posted

Edited by hiker, 17 August 2007 - 02:46 PM.

[ogm]

would you say it would be a mistake to short SPY here for an overnight trade?

at or near the 200day sma -145.38 price

with the SPX major horizontal at 1447

I assume the internals and the 60min break out of the falling wedge you posted trump R in your view?

just curious, cause most here seem to think it is too early to attempt to short..wait for Monday is what I have seen posted

The internals momentum is in your way big time, from my perspective. 60 min summations are ramping up.
Also the sentiment is in your way. there is absolutely no trust in this rally. Put call has been heavy for days and heavy again.

and the momentum on 60 min charts is also against you big time.

I think if there will be a dip, it will be bought.

Of course Monday morning some news may come out that will change everything, but as plain charts go.. I think this has more room to run.


But in all honesty, you're a better trader then me, Hiker, so you may very well be right to short it here at resistance.


I'm just dicking around with squigly lines

I do like the banks leading the way today though. Look how BAC gapped above 200 SMA.

Edited by ogm, 17 August 2007 - 02:52 PM.

[hiker]

thanks for your opinion, ogm. appreciate it. 20 week ema, and/or the 1476 R and near the d/t line may be a magnet. will see...

Edited by hiker, 17 August 2007 - 02:55 PM.