Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Monday, October 20, 2008
Out Again
Today isn't my day, at least not yet. I covered my short unit at 964. A move above 970 at this juncture will mean that Friday's late break was a false alarm and that the market is headed for the 1080 level.
15 comments:
Anonymous
said...
Post european-cash close bounce has probably ended. The longer we remain below morning highs the greater the chance we head back down
Market had it's chance to go back down but it hasn't. This lack of conviction in either direction tells me that we are in for the same for the rest of the day. So, we either play the ranges until they break or we don't play at all.
subtle change going on here: VIX edging lower, oil higher, shift towards "riskier" currencies, money rates/spreads lower but only limited bullishness in stocks. We are either poised to pop higher or those with the same thought process as me will lose patience/conviction and bail on their long positions.
carl, bought 1 unit at 970 per your call and sold out at 980. Sorry I didn't hold out another five minutes as i could have profited almost double. Waiting for your next call, thanks again to you and my bro... ted
15 comments:
Post european-cash close bounce has probably ended. The longer we remain below morning highs the greater the chance we head back down
EDS
Looks like a lower high is in place. Looking for a move back below 943.
EDS
Hi Carl,
The 960.00 I bought earlier this morning was just sold at 960.00, I'm waiting for a buy signal to appear. I will not short this market now.
Thanks.
Kindest regards,
PM
Market had it's chance to go back down but it hasn't. This lack of conviction in either direction tells me that we are in for the same for the rest of the day. So, we either play the ranges until they break or we don't play at all.
EDS
Hi Carl,
I couldn't resist, I reinstated my one long at 960.00, I still believe we're going higher from here.
Thanks.
Kindest regards,
PM
subtle change going on here: VIX edging lower, oil higher, shift towards "riskier" currencies, money rates/spreads lower but only limited bullishness in stocks. We are either poised to pop higher or those with the same thought process as me will lose patience/conviction and bail on their long positions.
EDS
Look like we are are heading for 1000 level this afternoon
EDS
My bullish stance targeting 1000 this afternoon stands as long as we hold above 955.
EDS
ding ding!
think in terms of oil going below $50/bbl next six months, closer to its long-term mean
15:30EST is the cut-off time for any rally to get started otherwise we could see some selling into the close
EDS
Finally the rally finds it's mojo. Still see an outside chance of a spike towards 1000 but more likely we top out around 990.
EDS
A close above 982 is VERY bullish for overnight and tomorrow's trade.
EDS
carl, bought 1 unit at 970 per your call and sold out at 980. Sorry I didn't hold out another five minutes as i could have profited almost double. Waiting for your next call, thanks again to you and my bro... ted
Carl, I think market will rally to 1100 before retracing, closing the October 6th gap.
carl so for every point u gain or lose is 50 bucks?
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