9 replies to this topic

[denleo]

Looks like a no brainer here at SPX 1498. I bought lots of calls as a hedge to my IT bearish positions. I will take profits 20 points higher in a few hours. Denleo

[ogm]

Looks like a no brainer here at SPX 1498.

I bought lots of calls as a hedge to my IT bearish positions. I will take profits 20 points higher in a few hours.

Denleo

What is it exactly that you see ?

Good news employment report is getting sold with a bang. Doesn't feel particulary bullish.

Positive A/D held up for about 20 minutes before going into a deep plunge again.

Put/call is very timid. Was much higher yesterday. I think quite a bit of dip buying going on.

[denleo]

Profit is guaranteed when you buy a dip like this. I am glad that everyone is doing. I like to be part of the majority. I said it many times. Denleo

[SemiBizz]

It's so stupid I had to do it... buy the dip, look to add QID on the bounce... They turned the 3 min Nasdaq Comp back up just a few min ago... let's see what dey got.

Edited by SemiBizz, 02 November 2007 - 09:36 AM.

[eminimee]

another low would be scarey....maybe waiting on xbd....or we just fall apart....I'm still thinking former

http://stockcharts.com/c-sc/sc?s=$SPX&p=15&yr=0&mn=0&dy=21&i=p16098881974&a=109883924&r=7748.png

http://stockcharts.com/c-sc/sc?s=$XBD&p=D&yr=1&mn=6&dy=0&i=p38065292603&a=85988535&r=9020.png









and the 05 low on bkx is 93....if it gets back above 96.50...that's a good sign....



http://stockcharts.com/c-sc/sc?s=$BKX&p=M&yr=9&mn=6&dy=0&i=p62065924892&a=75610474&r=6872.png

[ogm]

Financials showing no signs of life at all here.

Edited by ogm, 02 November 2007 - 10:15 AM.

[Darris]

How about taking out the Sunday night Oct 21st/22nd overnight low of 1492.50 in the early afternoon around 1:15pm EST and then reversing it up for the close. NQ futures have corrected as much as 64 pts with this mornings low, so they are due to rally at least 50 from that low in the near future. Anybody notice the ER2 futures this morning? Held like a rock only down 1 or 2 before the news, while the ES and NQs were down 7/10 respectively. Even now the RUT is still showing relative strength. Yesterday and today should be giving us our 1st of the month seasonal buy for the early part of next week. Then maybe another discount later in the week for the OPEX discount. Good trading environment now.

[IndexTrader]

I doubt we move 20-30 points higher before we take out the 1495 low. Just remember the CME's motto....leave no stops unturned. IT

[ogm]

How about taking out the Sunday night Oct 21st/22nd overnight low of 1492.50 in the early afternoon around 1:15pm EST and then reversing it up for the close. NQ futures have corrected as much as 64 pts with this mornings low, so they are due to rally at least 50 from that low in the near future. Anybody notice the ER2 futures this morning? Held like a rock only down 1 or 2 before the news, while the ES and NQs were down 7/10 respectively. Even now the RUT is still showing relative strength. Yesterday and today should be giving us our 1st of the month seasonal buy for the early part of next week. Then maybe another discount later in the week for the OPEX discount. Good trading environment now.

Don't know, Darris.

I think this decline is the real deal. Doesn't mean its going to freefall from here, but momentum, trend and internals are all pointing in the same direction. Not to say this won't bounce here and there, but I think its pretty risky to play it against the trend. You know how brutal downtrends may be.

XLF just broke new 52 week low and is just sitting there dead, with no signs of life. And thats after the second rate cut already.

[SemiBizz]