Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
Thursday, November 15, 2007
The market has dropped as low as 1446.75 so far today and I am long from 1463. I am very confident that the 1437.25 low will hold so I shall stay long and maintain my 1438 stop. I expect tomorrow to be a generally bullish day.
qn: Why is your stoploss above support?
Carl thank you for allowing me to follow your thinking.
I have the same question that was posted previously, why is the stop loss above your support of 1437.25. Are you short from 1463 down to 1438 and will cover?
History shows that option Fridays following weak Thursdays have consistently resulted in big losses. Don't be surprised if the SPX loses another 2% to 3% tomorrow.
Still no sign of capitulation. We still need to test August lows. Looks as if the Grinch might just steal Christmas this year.
Post a Comment