Thursday, December 18, 2008

Down to 830 again

Contrary to my expectation the e-minis have broken down out of the 885-920 trading range a second time on high volume. This means that the market is headed back down at least to the 829 overnight low which was established last week after the previous break down from this same range.

6 comments:

PM said...

Hi Carl,

I bought one at 875.00, time to get bullish.

Thanks.

Kindest regards,

PM

PM said...

Hi Carl,

I went flat at 892.00.

I wonder where all the bearish posters are these days. I suppose they'll come out again if/when we start hitting the lows.

Have a good evening.

Thanks.

Kindest regards,

PM

PM said...

Hi Carl,

I couldn't resist. Long again at 890.00, I still think we're going higher.

Thanks.

Kindest regards,

PM

Anonymous said...

we are going to 1800 in 2009. buy with everything you have! a multi decade bull has started.

PM said...

Hi Carl,

The lesson is to avoid temptation, I went flat this morning at 885.00. I think this market is getting a bit too heavy to rally. I still have not received any buy signal and prices are moving further and further from the 919.90 buy point. We would need a close above 919.90 today to confirm an up trend.

Thanks.

Kindest regards,

PM

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