Tuesday, September 02, 2008
E-mini Update
I just shorted one unit (100%) in the e-minis at 1284.75. The fact that the market has made several tries to move above 1300 over the past three weeks and every one has been rejected makes me think that 1250 is the next stop. However, I still think that a big rally will start from that level.
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9 comments:
Welcome to day trade world.
people start to post hard in your comments field Carl... means to me we are at a critical test for this bear-market rally, which i reckon to be only in an early stage but needs to overcome time pressure at this stage to produce further profits. Good trading all ! MC
Carl take profit at 1270, and wait for weak rally before re-shorting
Everyone's an expert!
Carl,
I think everyone is getting whipsawed here.
Hi Carl,
As I mentioned late last week, a close today below 1285.10 will be a confirmed sell signal for me. It appears we now have it.
Thanks.
Kindest regards,
PM
I think the market is now poised to go up. Carl, you will probably be fooled again.
It is interesting the comments on this web. The comparision with
http://caldaroew.spaces.live.com/blog/cns!D2CB8C5EBA2ADE86!14819.entry#comment
is interesting. (I dont know if I am allowed to post links).
This is a great free EW site. The comments on that site tend to rattle back and forth between the commentators themselves and no one ever attacks the blog owner, Tony. Tony, however, notably ,never says what position he has on, only his opinion which as it is EW terms, is always - if this, this or if that, that.
I guess it is the adament nature of this blog that invites the reactions such as they are - it seems all or nothing, agree or disagree. Markets however are shades especially in the short term and diagmetrically opposed views can both be right (or unfortunately wrong) depending on the time scale and execution of the trade. Net nothing has happened today.We bounced off the trend line for the 6th time and have probably been through 1275 , 20 or 25 times this year.
Best wishes
Catherine
futia,
I said it once and I am goingto say it again more traders need to heed yor stop and reverse flexibility. Thats an excellent quality in a trader.
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