Just because the futures moved over 1364 does not alone suggest
the correction is over. First, we'll need to see the reaction in
the cash market and even if it takes out the long red candle there
still remains a triangle and flat options. I will elaborate
on this tonight.
Thanks Steve. I shorted early this morning at 136.87,
thinking futures were pretty extended. Then I started to get
a little nervous.... Looks okay for now. Stop is at
137.50.
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Headed over 1364?
Posted by frtaylor on 8th of Mar 2012 at 08:44 am
Matt, futures are just over the equivalent of 1364 (I'm tracking pre-market SPY). So does it look like the correction is over?
Just because the futures moved
Posted by steve on 8th of Mar 2012 at 09:20 am
Just because the futures moved over 1364 does not alone suggest the correction is over. First, we'll need to see the reaction in the cash market and even if it takes out the long red candle there still remains a triangle and flat options. I will elaborate on this tonight.
Thanks Steve. I shorted early
Posted by frtaylor on 8th of Mar 2012 at 09:31 am
Thanks Steve. I shorted early this morning at 136.87, thinking futures were pretty extended. Then I started to get a little nervous.... Looks okay for now. Stop is at 137.50.