Tuesday, October 20, 2009

sold both units at 1086.00

7 comments:

F&H Painting said...

higher volume on the downticks

andi said...

ok folks..get ready to buy near ES1075..i recommend 1/2 @1080
1/2@1075

Kishore said...

andi, where are you?

Yesterday, you appeared confident enough to "recommend", to others, that they should be buying on dips.

Well, are you taking this dip?

I am asking you this question because I, personally, find it to be very hard to actually pull the trigger at an "appropriate" time because of doubts. Timing the market, particularly in short time-frames, is not as easy as it appears to be!

Wags94596 said...

BTU reports blow-out numbers due to increased demand out of China and India. I sold the news off the opening, and the entire sector has turned negative.

SPY seems to want to find support at yesterday's lows at 108.73 and this could create for some intra-day short-covering.

All in all, we should see VOLATILITY increase quite a bit from here on out!

:)

Alex said...

Sell when bears start buying dips.

Kishore said...

Alex, I agree and that's what Contrarian Carl says.

But we may not be there yet as the bears are still not extinct. More thrashing a few more times, by a few more blowout rallies, will probably make the bears extinct and the monetized bubble ripe for a burst. Not there yet!

We need to wait for the evidence of lower highs and lower lows and breakdown of the trend line on daily charts.

jeff said...

SPY Levels - folks, what I enjoy Carl's approach is while he can't control the market movements, he always seems to define his risk and is not afraid to stop himself out when he realizes he's wrong.

That being said, I concur that Wave 2 of this larger bear market rally is getting very long in the tooth. Besides the obvious bear market wedge formation from the March low, folks have to respect the upside. Until such time as we hit 1125-1150 or fall below the intermediate term resistance(~1050), I'm staying long.