I just covered my entire short position in the e-minis at 895.25. The market has held up much better than I expected after this morning's early selling. This makes me think that the bulls are gaining the upper hand and I'd rather have half a loaf than none at all.
Smart move Carl.
ReplyDeleteThe longer the market holds in here the more it's looking like that huge selling after the open was akin to a rogue wave.
Until the close I expect to see a battle to get the SPX cash back above 903 before the close.
Weak close. Most people are still bullish. Potential for a major break lower Monday on the way to new lows.
ReplyDeleteCatherine
i tend to agree with catherine
ReplyDeletealthough i favor a rally into early next week ,
earnings reports are coming... that usually means "chop fest"
ReplyDeleteCarl,
ReplyDeleteI agree with your previous post on the morning selling. Also the close was very weak. I have covered half my shorts but will re-institute (hopefully on some strength) on Monday. Target 865.
Hi carl
ReplyDeletethis may be a bit of a stretch
and if you have some time to consider this or even note it
sometime id appreciate this .
does point 18 and point 10 ?
ever have similar characteristics
when considering the 3 peaks domed house pattern ????
thanks
joe