3 replies to this topic

[NAV]

20 SPX points in the pocket. Still holding half my OEX calls and ETFs. We are headed higher. VST target SPX 1563, should produce a very minor reaction. SPX 1595 measured move target should produce a playable reaction. My NQ 2250 target was neatly tagged today. Next important resiatnce on NDX is 2293. See, the Fed decision had nothing to do with the markets. The market has been saying loudly for the last few days that it wanted to head higher. The Fed is good for 30-minutes of drama. It's pays to focus on technicals and trend rather than Fed. Yet, there's so much obession about what the Fed does or not does. Is it 25 ? Is it 50 ? Is it 100 ? Just like focussing on P/E, earnings and economy is useless in timing the markets. Nuff said.... Good trading everyone.

Edited by NAV, 31 October 2007 - 03:18 PM.

[esther231]

Great call, Nav. Airedale too.

[arbman]

Talk about liquidity... Change in the monetary supply OR liquidity = Fed

[Darris]

I am hopeful that the week before OPEX discount next week fills the MSFT gap up from a few days back for our next swing trade buy. Tomorrow will ultimately be up quite a bit more as we finish this mini power move, before the next whippy short term top will occur. Play with the Quant funds and you will be rich by the end of the year.