Thursday, March 06, 2008

Just Bought E-minis

I just took a long position in the March e-minis at 1319. I am using a 20 point stop for the time being, but I will get out if the market fails to close above the 1320 level.


Anonymous said...

Hi Carl,

1319.00 is an excellent entry, let's hope we see that rally.

However, a close today in the March SP’s below 1309.00 will confirm yet another sell signal, but this would be the first confirmation if it occurs.



Anonymous said...

imho 1290/300 could be a bottom for a while, any domed house hipothesys on the way?

Anonymous said...

Carl, the foreclosure crisis is overblown .A recent list of year-end mortgage foreclosure rates in 100 top metropolitan areas drew a lot of attention. BUT it did tell me, for instance, that the foreclosure crisis is a regional problem, not a systemic one. It could become a systemic problem, of course, but we're a long way from that now.
This news will disappoint the gloom-and-doom crew and all those seeking the excitement of financial upheaval. But it may be time to temper our worry and take a closer look at some of the year-over-year foreclosure statistics: Though the national rate of foreclosure increased by a whopping 79% between December 2006 and December 2007, the rate was still only 1.033%. Because about 30% of all homes are owned mortgage-free, this means that for all the noise about a crisis, only seven-tenths of 1% of all homes were in foreclosure. What does that mean.... I think buy the dollar today on another weak employment report and buy stocks for a seizable rebound.