Friday, August 15, 2008
E-mini Update
I just sold my entire e-mini long position at 1297.25. I don't like the fact that on the third day of the rally from 1275 the market is dull at a lower top. Since I have a decent profit from an average price of 1251.25 I want to take it. Should the market break from here I plan to put my position back on near 1260.
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7 comments:
Excellent trade. Keep up the great work.
Hi Carl,
Indeed, excellent trading. I also see your box count down to around 1262 or so, that would be an ideal place to buy if we actually get down there.
Kindest regards,
PM
I followed your suit here also. Thank you for the trade.
I had similar doubts and closed my position on spy before the close.
The difference between us is I expect another leg down to start in the not so distant future (possibly this month).
None the less I love your web site
Market lacks conviction...going nowhere fast. It's waiting for another shoe to drop or some uncertainties to become certain. One big one is the Presidential election which is less than 90 days away. Kind regards, Janet
The next move of consequence, and I don't mean thirty points on the S&P, is down. It may back and fill for another week or so, and perhaps the market may even get as high as 1330 or thereabouts, (though I doubt it) but the downside risk dwarfs the upside potential.
6 of 6 posts looking for lower prices , hmmm
joe
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