Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Monday, November 26, 2007
E-mini Update
I was stopped out of my long position at 1421, break even, this afternoon. Tomorrow I plan to be a buyer below the 1400 level but I want to see how the market trades overnight before I select my buy spot.
8 comments:
Anonymous
said...
60 minute put/call ratio suggests fear levels in the market are very low here which could be risky for the bulls. It may take the 40 week cycle low due mid-December to spike the put/call and give the tradeable bottom.
Trying to pick bottoms in this current market is a losers game. Just too many headwinds coming from multiple directions.
Allow the head winds to die down before going long. We could see 46.50 on the QQQQs before the week is over. Error on the side of caution said the wise man.
1347 is a longer term support on the spx cash index and 12200 area in the dow if it breaks below 12694 12675 . the next cycle low for me is due march 6th 2008 should be a bullish yr yet an overall bear mkt rally . the relentless sell off is loosing momentum , from dec 7th 10th im looking for a sideways move into march 6th 2008 and then and upside move for the year . 14702 14807 sould be about it for a top which is due june 2010 .
CARL, just a note of thank you for sharing your trades. You have been magnanimous despite some of the abuses heaped upon you. Thks again for your generousity.
8 comments:
60 minute put/call ratio suggests fear levels in the market are very low here which could be risky for the bulls. It may take the 40 week cycle low due mid-December to spike the put/call and give the tradeable bottom.
Chart here:
http://img135.imageshack.us/img135/403/pcfi9.jpg
There appears to be a lot of support in the 1370 SPX area. I'm waiting for this area before I attempt a long play. Good luck with your trading Carl..
If I can recall, SPX moves 185points. If thats the case, then SPX shouldget to LOW 1370s before this correction is over.
Pat
Trying to pick bottoms in this current market is a losers game. Just too many headwinds coming from multiple directions.
Allow the head winds to die down before going long. We could see 46.50 on the QQQQs before the week is over. Error on the side of caution said the wise man.
1347 is a longer term support on the spx cash index and 12200 area in the dow if it breaks below
12694 12675 . the next cycle low for me is due march 6th
2008 should be a bullish yr yet an overall bear mkt rally . the relentless sell off is loosing momentum , from dec 7th 10th im looking for a sideways move into march 6th 2008 and then and upside move for the year . 14702 14807 sould be about it for a top which is due june 2010 .
Naming the recent sell as "Curse of Phi" date falling on 10/11/07.
Shorts are acting like they own markets to slice and dice as many stocks are trading multi-year low.
Who can drive out the curse Phi effect?
CARL, just a note of thank you for sharing your trades. You have been magnanimous despite some of the abuses heaped upon you. Thks again for your generousity.
i respect everybody's opinion but we should let the market tell us where the market wants to go.
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