Monday, November 12, 2007

E-mini Update

I have just canceled all my orders in the e-minis. I expect to be a buyer tomorrow but want to wait for the early morning trading before I decide where to place my orders.

We have seen four consecutive days with lower highs and this makes me believe that the market will drop at least to 1440 before it can start a big rally.


BH_Trade said...

Late day selling panic would have filled you. Do you repeat the drill and drop the buy price by $10-15 for tomorrow?

I would expect some margin call selling in the early overnight.

Sam said...

Looks like the 1440 level (143.50 on the SPYs) has been hit after hours.

Do you ever trade after hours?



sysin3 said...

uh, how do you figure support points for QQQQ ?

Not being (too) snarky ... but they seem to keep moving down.

Really, you have made some good calls, and I appreciate your work.