7 replies to this topic

[blustar]

My work is suggesting higher prices Tuesday, perhaps to the 1496/97 area SPX. Cycles turn down Wed and Thursday, but rally on Friday. You Mast may be right, 1475 by OPEX. I can't see this thing tanking right here, although I was thinking that earlier. We should hold the 1445 area on any weakness Thursday. Today was day 5 of the 8 day cycle and last Monday last week was the 16 day cycle low and today was also a Fib 21 days since the low in August. Best guess is one more up day then a couple strong down days, especially Thursday, with Friday strongly up.

[youmast]

You Mast may be right, 1475 by OPEX.

I didn't say 1475 by OpEx. I have different targets for Friday.

[blustar]

You Mast may be right, 1475 by OPEX.

I didn't say 1475 by OpEx. I have different targets for Friday.

1475 shouldn't be too far off from what I'm seeing.

[blustar]

New work suggests SPX 1509-10 by 10:30 EDT Wednesday morning and then 1445-47 by late Thursday or early Friday this week. 4Q target is 50.15 by Wednesday and then into the low 47 area by same.

[blustar]

My personal position is flat. I am either waiting for a top to short or a bottom to go long. A lot of my indicators are in "No Man's Land" which are neutral. Gann's Rule of Over Trading takes precedence, thus I am am out of the market and waiting.

[blustar]

My indicators just turned down, but we could rally a bit first. I am no longer bullish and expect the FED decision NOT to be what people are expecting. Target low 47 QQQQ and 1445-47 for the SPX by Thursday or Friday. I have bids under the market for the Sept 49 4Q puts at .61.

[youmast]

With such an attitude, I would NEVER trade stocks. Boy, you change your mind every mili-second. Do you ever have a plan?

Edited by youmast, 18 September 2007 - 09:37 AM.

[NAV]

Gann's Rule of Over Trading takes precedence, thus I am am out of the market and waiting.

Does Gann also has a rule on Overanalyzing, leading to trading paralysis ?