Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Thursday, March 06, 2008
Just Bought E-minis
I just took a long position in the March e-minis at 1319. I am using a 20 point stop for the time being, but I will get out if the market fails to close above the 1320 level.
3 comments:
Anonymous
said...
Hi Carl,
1319.00 is an excellent entry, let's hope we see that rally.
However, a close today in the March SP’s below 1309.00 will confirm yet another sell signal, but this would be the first confirmation if it occurs.
Carl, the foreclosure crisis is overblown .A recent list of year-end mortgage foreclosure rates in 100 top metropolitan areas drew a lot of attention. BUT it did tell me, for instance, that the foreclosure crisis is a regional problem, not a systemic one. It could become a systemic problem, of course, but we're a long way from that now. This news will disappoint the gloom-and-doom crew and all those seeking the excitement of financial upheaval. But it may be time to temper our worry and take a closer look at some of the year-over-year foreclosure statistics: Though the national rate of foreclosure increased by a whopping 79% between December 2006 and December 2007, the rate was still only 1.033%. Because about 30% of all homes are owned mortgage-free, this means that for all the noise about a crisis, only seven-tenths of 1% of all homes were in foreclosure. What does that mean.... I think buy the dollar today on another weak employment report and buy stocks for a seizable rebound.
3 comments:
Hi Carl,
1319.00 is an excellent entry, let's hope we see that rally.
However, a close today in the March SP’s below 1309.00 will confirm yet another sell signal, but this would be the first confirmation if it occurs.
Thanks.
PM
imho 1290/300 could be a bottom for a while, any domed house hipothesys on the way?
Carl, the foreclosure crisis is overblown .A recent list of year-end mortgage foreclosure rates in 100 top metropolitan areas drew a lot of attention. BUT it did tell me, for instance, that the foreclosure crisis is a regional problem, not a systemic one. It could become a systemic problem, of course, but we're a long way from that now.
This news will disappoint the gloom-and-doom crew and all those seeking the excitement of financial upheaval. But it may be time to temper our worry and take a closer look at some of the year-over-year foreclosure statistics: Though the national rate of foreclosure increased by a whopping 79% between December 2006 and December 2007, the rate was still only 1.033%. Because about 30% of all homes are owned mortgage-free, this means that for all the noise about a crisis, only seven-tenths of 1% of all homes were in foreclosure. What does that mean.... I think buy the dollar today on another weak employment report and buy stocks for a seizable rebound.
regards
Peter
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