Tuesday, August 24, 2010

out of long at 1050.00 - market broke below day's midpoint


tempo said...

IMO low will likely be made today or tomorrow as Uncle Ben speaks on Thursday and I expect comments on increased easing by the FED which will trigger a positive reaction. In the last few years there have been positive Aug vacation announcements which have started rallies. Carl, your 1050 call has been right all along

Jeff said...

Carl, I like your 1050 call. I bought around the same point you did today, but I'm giving this trade a little more room. I enjoy your blog.

Joe said...

Hi Carl,

Sorry to say this trade.
I agree, that this trade had more merit, and better potential.

During 2009 you never bordered during a position, when it broke below midpoint levels.

But probably the many small losses made their mark on your trading a bit.

www.predictionwizard.com was running a few mintues ago for early predictions and all indexes
consistently point to higher levels for Wednesday. (Not yet published the outputs.)

So Your chances before the close were really good.

Joe Papczun

Naveedah said...

Not a lot of high conviction buying,if the tape creeps higher like this into the close, there could be some follow-on covering/buying.

Short covering before close!

siricor said...

Hey Joe,

Don't question Carl... look where we are now..