17 replies to this topic

[maineman]

Bought 20 lots OEX 720 OCT puts at the close last night for the expected little pullback and I'm out.
Now we watch .... if 725 gives way things could acclerate down. THe daily uptrend line since mid September looks a bit too steep. Meanwhile the daily MACD histogram has been steadily deteriorating since then, too.

FOr a breakout to be successful, it not only has to close above the trading range, it needs to stay there and accelerate fairly quickly. Not so sure at the moment.. long and nervous... that's why we use stops... and money managment. If this were to plunge and close back into the 660 to 720 with "feeling" then Tea may get his retracement in short order.

mm

looks like 725 has held so far....(low print 724.97)
still, feels nerve-frazzling for some reason...

mm

[eminimee]

Possible H&S but may be going for another high

http://stockcharts.com/c-sc/sc?s=$SPX&p=5&yr=0&mn=0&dy=13&i=p75451873187&a=93322579&r=8541.png

[relax]

Hi TP do you have any deadline for the move down I'm thinking that bears need to take advantage of things through next week, otherwise they'll probably have to wait until december to make things happen

[denleo]

Hi TP

do you have any deadline for the move down

I'm thinking that bears need to take advantage of things through next week, otherwise they'll probably have to wait until december to make things happen

Next May will be a good time for a correction IMO.

Denleo

[eminimee]

SPX has made a new high this afternoon ...so far is unconfirmed by ES and OEX....WWW high is possible and down hard into opex

Edited by Teaparty, 10 October 2007 - 03:15 PM.

[relax]

denleo

think martin armstrong cycle has a bottom around march 22 2008

which is also a 9 month low from august low and 12 month low from march 2007 low

we'll see

Hi TP

do you have any deadline for the move down

I'm thinking that bears need to take advantage of things through next week, otherwise they'll probably have to wait until december to make things happen

Next May will be a good time for a correction IMO.

Denleo

[eminimee]

Seeing ES and OEX fail to confirm the spx new high this afternoon is ominous....imvho.

[eminimee]

Guess I'll have to redefine "ominous".