Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Monday, February 23, 2009
Sold two units at 759.50.
12 comments:
Anonymous
said...
Dear Carl,
S&P is still above its friday's low(754.25). Therefore, still chance of a recovery is there. If I were u, I shall wait market to break 754.25 (friday's low)before selling two units.Moreover, one can get a good chance in-between to be out at par somewhere near 770-772.
Anonymous 11:37, it is hard to say. Strong turn around is also a possibility. Let us not overlook the rally on Friday. The fall today could be just a pullback before a major move up.
"Historically, the months of December through February have been the three most bullish months of the year. This year the market was only able to move sideways. This is not encouraging. And now, with a new sell signal, I would have to believe we'll likely see another wave of selling enter the market. It would not be unreasonable to see the SP's test the 600ish to 670ish level in the current down leg. But, time will tell."
It appears that we may well see another mammoth wave of acellerated selling into the September/October time frame for 2009. At this point, it looks that way. I believe the key is to remain short for much of the rest of this year.
12 comments:
Dear Carl,
S&P is still above its friday's low(754.25). Therefore, still chance of a recovery is there. If I were u, I shall wait market to break 754.25 (friday's low)before selling two units.Moreover, one can get a good chance in-between to be out at par somewhere near 770-772.
Regards,
Good thinking, San. That is a reasonable way of proceeding, I believe.
744 is the next target below 759
I dont see that the market has any strengh at all. we are going to make a major drop soon.
//GC
Carl :
The DAX was making contract lows when you got out.
If you were still bullish were would you get back in ?
Thanks
Anonymous 11:37, it is hard to say. Strong turn around is also a possibility. Let us not overlook the rally on Friday. The fall today could be just a pullback before a major move up.
i have 742 for today s&p, but no guarantee it will hold:)
I know many of you day trading fans think it is junk but Dow theory has kept me short and is shouting short-er:) Regards.
Dear Carl & Friends,
Since friday's low (754.25) is still intact, one can buy in small lots for any intra-day move.
Regards,
ES low today will be 725
One very mildly bullish factor has been that the bank index has not collapsed (so far...). If it gives way, this market will dive.
OX.
Hi Carl,
On 2/17 I posted on your blog:
"Historically, the months of December through February have been the three most bullish months of the year. This year the market was only able to move sideways. This is not encouraging. And now, with a new sell signal, I would have to believe we'll likely see another wave of selling enter the market. It would not be unreasonable to see the SP's test the 600ish to 670ish level in the current down leg. But, time will tell."
It appears that we may well see another mammoth wave of acellerated selling into the September/October time frame for 2009. At this point, it looks that way. I believe the key is to remain short for much of the rest of this year.
Thanks.
Kindest regards,
PM
PM, please, we are trying to concentrate on day trading, here and now. September/ October is on another galaxy.
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