Monday, January 12, 2009
Early Update
The e-minis have reached the top of my target zone, having dropped as low as 874 this morning on moderate volume selling. I still think selling rallies is the correct tactic until there is some evidence that buyers are willing to become more aggressive - a rally over the 890 level would be such evidence at the moment. In the meantime I think 885-890 will be a ceiling for the rest of the day.
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6 comments:
Carl,
In any of your work have you ever studied the Bradley Model? Today is an important cycle turn day which should lead to a rally into the innauguration and then more weakness into next month. The current Elliott Wave pattern is also close to this prediction. Any thoughts?
Thanks for your great blog.
Hi Carl,
I did get that confirmed sell signal with a close below 894.50 last Friday. I covered and went long at 872.00 just now.
Thanks.
Kindest regards,
PM
Carl
Nice call on this recent mini S&P sell off.
Do you think the March bonds & stock indexs will have an inverse relationship much longer?
Brent
Hi Carl,
Getting long too soon was a big mistake, I reinstated my short position almost right away for a few tick loss.
Thanks.
Kindest regards,
PM
Nice call-Carl on the 65 level
I'm looking for a sell-off into the close like Friday but then a rally overnight and tomorrow.
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