10 replies to this topic

[A-ha]

.... ------------ Edit: added @ 1471

Edited by A-ha, 23 August 2007 - 09:42 AM.

[eminimee]

I'm waiting for 1475 spx and/or 686.50 oex to short ES...I'm long oex puts for a trade already....but if we can't hold 1469.50 ish on a 15 min bar...we may have some sort of top in already

[A-ha]

I'm waiting for 1475 spx and/or 686.50 oex to short ES...I'm long oex puts for a trade already....but if we can't hold 1469.50 ish on a 15 min bar...we may have some sort of top in already

I was waiting for SPX cash 1475 too. I missed it by 2 points, now I am chasing it.

We may get 1475 , or may not. There is no perfection in this thing

[rkd80]

heh, couldnt resist - me neither. you have a rough stop on this one atilla?

[A-ha]

heh, couldnt resist - me neither. you have a rough stop on this one atilla?

I shorted at the trend line so stop is a few points above 1471...

More scientifically if ES stays above 1471 for more than 5 minutes, we will get a breakout on 5 minute chart which may blossom into a test of SPX cash 1475.

ES>1471 for more than 5 minutes that is my stop

[rkd80]

heh, couldnt resist - me neither. you have a rough stop on this one atilla?

I shorted at the trend line so stop is a few points above 1471...

More scientifically if ES stays above 1471 for more than 5 minutes, we will get a breakout on 5 minute chart which may blossom into a test of SPX cash 1475.

ES>1471 for more than 5 minutes that is my stop

Thats a pretty cool way of looking at it. I always though that time is an important factor, but never understood how it works.

[swingtrader]

Hi, XD, Do you have any targets in mind as well? Thanks in advance. ST

[A-ha]

ES=1452 for today

Edited by A-ha, 23 August 2007 - 10:19 AM.

[bliss just missed]

ES=1452 for today

My take is as long as Big Ben can cut the discount rate (again) or lower interest rates, there is effectively a floor to this market. Throw in the summer doldrums and we'll probably chop assuming no negative news comes out from a major lender.

Also, anyone short from earlier this week will most likely cover.

Good luck.

[A-ha]

I picked the wrong index to short. It is the RUT that is really cratering like it was during the pre-crash times this indeed is another sign that the bounce is over

Edited by A-ha, 23 August 2007 - 10:52 AM.