Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Wednesday, December 03, 2008
Out
I just sold my entire position at my original buy price of 840.50. This market has pulled a dramatic U-turn and I think this means we are going below 800.
9 comments:
Anonymous
said...
Carl,, I realize you are now daytrading but why not wait for the SP500 to exit the Monday 01DEC daily range before trading? While prices are still inside the long range from Dec 1st, odds favor whipsaw like you are experiencing. Especially with this type of market volatility its possible for close to close prices to be unchanged but see the Dow travel 800 pts on any given day! Already today the Dow has gone from down 185 to up 140 to down 140 and the day is not over! thats alot of points and as I write, the Dow is headed back to flat on the day. What conditions tell you NOT to trade?
That just looks like pivot power, man my head is spinning these days. Can't get comfortable for a second. Hats off to you for stepping out and trying to put things into context for everybody.
That was a great article you posted the other day about the Bonds reaching a 25 year top. That was a brilliant call on your part, and you made that call 25 years ago. That's absolutely incredible. Well, I have to agree with you on the Bond top being nearby; I started taking short positions in the Bonds today, I think we could see a Bond meltdown of about ten handles.
I am so glad I found your website. I am grateful for your daily updates. I have learned a lot from you through these difficult months. I am a single mother who was recently laid off from my job and unable to find work. I used my severance pay to learn to trade so I can put food on the table for my babies. Thank you.
I think this busking bronc is whipsawing you pretty good. I also think we are bottoming, but first Mr. Market is going to try and ruin a few more peoples nerves and portfolios.
May not be THE bottom but I think a decent rally is due.
Carl, Now the Dow has finished UP 172 pts on the day! Amazing intraday volatility! If you have time to let us know what makes you NOT trade, I am sure many would appreciate it! And fwiw, despite the strong close today, the market is STILL inside the Dec 1st range!
9 comments:
Carl,, I realize you are now daytrading but why not wait for the SP500 to exit the Monday 01DEC daily range before trading? While prices are still inside the long range from Dec 1st, odds favor whipsaw like you are experiencing. Especially with this type of market volatility its possible for close to close prices to be unchanged but see the Dow travel 800 pts on any given day! Already today the Dow has gone from down 185 to up 140 to down 140 and the day is not over! thats alot of points and as I write, the Dow is headed back to flat on the day. What conditions tell you NOT to trade?
That just looks like pivot power, man my head is spinning these days. Can't get comfortable for a second. Hats off to you for stepping out and trying to put things into context for everybody.
Hi Carl,
That was a great article you posted the other day about the Bonds reaching a 25 year top. That was a brilliant call on your part, and you made that call 25 years ago. That's absolutely incredible. Well, I have to agree with you on the Bond top being nearby; I started taking short positions in the Bonds today, I think we could see a Bond meltdown of about ten handles.
Thanks.
Kindest regards,
PM
Carla,
I am so glad I found your website. I am grateful for your daily updates. I have learned a lot from you through these difficult months. I am a single mother who was recently laid off from my job and unable to find work. I used my severance pay to learn to trade so I can put food on the table for my babies. Thank you.
I think this busking bronc is whipsawing you pretty good. I also think we are bottoming, but first Mr. Market is going to try and ruin a few more peoples nerves and portfolios.
May not be THE bottom but I think a decent rally is due.
tough day
and the market pulls yet another U-turn and heads north. this market is giving me whiplash!
nobody's friend, this market;
Carl, Now the Dow has finished UP 172 pts on the day! Amazing intraday volatility! If you have time to let us know what makes you NOT trade, I am sure many would appreciate it! And fwiw, despite the strong close today, the market is STILL inside the Dec 1st range!
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