Thursday, December 27, 2007

E-mimi Update

I just put in orders to buy the March e-minis at 1486 using a 1461 stop.

1 comment:

Anonymous said...

Hi Carl,

I hope I'm wrong, but there's still a chance the s&p cash index could go down to the trendline drawn off the August and November lows. (Next week that trendline is around 1420, the week after, 1425.) If it does go that low, that would complete a major 4th wave triangle that follows the July high.

Of course, what I'm hoping for is that the 4th wave completed at the November low (as an ABC flat instead of an ABCDE triangle).

The market moving above the trendline drawn from the October and December highs (currently between 1505 and 1510) would rule out the triangle possibility (as long as it does this without going all the way down to 1425 first!)

In any case, the next week or so should tell the tale.

Happy New Year, Carl. I have appreciated your market analysis and insights. Here's to 2008 being your most profitable year ever!