Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Monday, October 06, 2008
Rally
The move up from today's low in the e-minis at 1009 has developed very high volume. I think this means that the market is headed for 1125 and eventually higher.
12 comments:
Anonymous
said...
Hi Carl,
I appreciate your frequent updates. After the verbal beating you have gotten here today, I'm amazed you continue to post at all!
Good luck on entering this rally at a point where you can ride it for a while.
I have been short since 9/2 at 1285.10, which I posted here on your blog. Today, I covered my short positions at 1040.00 and took a long position at 1054.00 to benefit, I hope, from a rally which I expect to occur over the next day or so.
Since this reverse to the long side is based on technical reasons, the trade is justified, but I have no buy signal yet.
I also mentioned in your blog last time that the selling should be completed no later than October 16th. Due to the magnitude of the current decline and the brief time it took to make this decline, that date has now been extended to October 30th.
Therefore, if prices can move above 1137.30 and remain above that price after October 30th, then a buy signal will be issued.
Carl, Thank you for posting all your trades over this crazy period. Interesting how every Tom, Dick and Harry has been posting advice for you. I'm going to join the herd, but only with an observation.
Over the past few months, it seems that you have been best at predicting direction on indices and equities that you are (as far as I can tell) not trading -- Gold, USD-Euro, Dollar-yen and even Goog. It is on these indices that you have been able to come up with your often startling predictions -- which have then come true. I have observed this about myself as well. My solution has been to shift to different trading vehicles.
Well i heard Cramer predict that the market can go another 20% down from here and he also warned to sell everything... I was watching NBC world news and he was on with Anne Curry... He said stocks can go down another 20% from here, now i dont know if he meant the overall market!
If Cramer is correct the DOW will go back to the Tech bubble days and im sure the SPX and NDX will follow!
The chart of the McClellan I was viewing was not up-to-date. The bullish divergence is not so dramatic as I described, but it's there, just as it is in Carl's measures.
its not about the whole concept of 'you are wrong till proven correct'-- so you keep your losses minimal and ride your gains--but its the whole macro point of view--which has been so wrong here--he has been bullish since 1500..and always calling for the next 100 point rally--it will happen eventually
12 comments:
Hi Carl,
I appreciate your frequent updates. After the verbal beating you have gotten here today, I'm amazed you continue to post at all!
Good luck on entering this rally at a point where you can ride it for a while.
Greg
I bought the following:
SSO@39
DDM@43
QLD@40
ex
I'll take that with a grain of salt~
:)
What's with everybody trying to out-predict one another.
Why not go with the path of least resistance, until it changes ??
Carl,
I am very contrarian by nature but this time, things really could be different.
When a very wealthy country (Iceland) is on the brink of insolvency, it really does make one think.
McClellan oscillator still diverging bullishly today in a big way.
Hi Carl,
I have been short since 9/2 at 1285.10, which I posted here on your blog. Today, I covered my short positions at 1040.00 and took a long position at 1054.00 to benefit, I hope, from a rally which I expect to occur over the next day or so.
Since this reverse to the long side is based on technical reasons, the trade is justified, but I have no buy signal yet.
I also mentioned in your blog last time that the selling should be completed no later than October 16th. Due to the magnitude of the current decline and the brief time it took to make this decline, that date has now been extended to October 30th.
Therefore, if prices can move above 1137.30 and remain above that price after October 30th, then a buy signal will be issued.
Many thanks.
Kindest regards,
PM
Carl,
Thank you for posting all your trades over this crazy period. Interesting how every Tom, Dick and Harry has been posting advice for you. I'm going to join the herd, but only with an observation.
Over the past few months, it seems that you have been best at predicting direction on indices and equities that you are (as far as I can tell) not trading -- Gold, USD-Euro, Dollar-yen and even Goog. It is on these indices that you have been able to come up with your often startling predictions -- which have then come true. I have observed this about myself as well. My solution has been to shift to different trading vehicles.
Well i heard Cramer predict that the market can go another 20% down from here and he also warned to sell everything... I was watching NBC world news and he was on with Anne Curry... He said stocks can go down another 20% from here, now i dont know if he meant the overall market!
If Cramer is correct the DOW will go back to the Tech bubble days and im sure the SPX and NDX will follow!
Good Luck and Be Careful
The chart of the McClellan I was viewing was not up-to-date. The bullish divergence is not so dramatic as I described, but it's there, just as it is in Carl's measures.
http://img56.imageshack.us/img56/8426/djia100608ou3.jpg
All 3 indices closed with a long tail on the candlestick, which should be a tradable bottom...
I am looking for SPX to trade back up to 1110-1140... and then we will re-evaluate the situation!
ex
its not about the whole concept of 'you are wrong till proven correct'--
so you keep your losses minimal and ride your gains--but its the whole macro point of view--which has been so wrong here--he has been bullish since 1500..and always calling for the next 100 point rally--it will happen eventually
Post a Comment