My Work Still Pointing Up
Started by
blustar
, Sep 17 2007 08:51 PM
7 replies to this topic
#1
Posted 17 September 2007 - 08:51 PM
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.
#2
Posted 17 September 2007 - 11:16 PM
You Mast may be right, 1475 by OPEX.
I didn't say 1475 by OpEx. I have different targets for Friday.
#3
Posted 18 September 2007 - 07:17 AM
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.
#4
Posted 18 September 2007 - 08:27 AM
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.
#5
Posted 18 September 2007 - 08:49 AM
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.
#6
Posted 18 September 2007 - 09:20 AM
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.
#7
Posted 18 September 2007 - 09:36 AM
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.
#8
Posted 18 September 2007 - 12:08 PM
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 ?