Ugly day! The market gaps
down, puts in an intra day bounce, but then sells off hard into the
close. The S&P 500 lost 'key' support at 1200 and that is
bearish. The VIX did close at 31.5 which indicates that
fear is building and over the past year this has been where the VIX
tops, however the VIX closed strong and in the previous bear market
it tended to top in the high 30's and low 40's. Congrats to those
who are Short!
Posted by maggi3322 on 15th of Sep 2008 at 05:04 pm
matt, covered most of my shorts at a nice profit today (thanks!)
was wondering if you think we get a bounce tomorrow and would you
short that if it happens? tia
Matt, I held shorts, after noticing the break in GE below July
lows earlier in the day. Is this looking more like wave 3 to
you now? Be interesting to see how the Asian markets react
tonight....
Ugly day! The market gaps down,
Posted by matt on 15th of Sep 2008 at 04:39 pm
Ugly day! The market gaps down, puts in an intra day bounce, but then sells off hard into the close. The S&P 500 lost 'key' support at 1200 and that is bearish. The VIX did close at 31.5 which indicates that fear is building and over the past year this has been where the VIX tops, however the VIX closed strong and in the previous bear market it tended to top in the high 30's and low 40's. Congrats to those who are Short!
matt, covered most of my
Posted by maggi3322 on 15th of Sep 2008 at 05:04 pm
matt, covered most of my shorts at a nice profit today (thanks!) was wondering if you think we get a bounce tomorrow and would you short that if it happens? tia
maggi - the Nasdaq has
Posted by dodgerdog on 15th of Sep 2008 at 08:36 pm
maggi - the Nasdaq has a shot to bounce off support near the 2155-65 area - if successful I would look to short into.
thanks dodger, hate to miss
Posted by maggi3322 on 15th of Sep 2008 at 08:55 pm
thanks dodger, hate to miss a huge drop but also hate to give back todays profits
Matt, I held shorts, after
Posted by trade on 15th of Sep 2008 at 04:55 pm
Matt, I held shorts, after noticing the break in GE below July lows earlier in the day. Is this looking more like wave 3 to you now? Be interesting to see how the Asian markets react tonight....
Yep this is wave 3,
Posted by matt on 15th of Sep 2008 at 05:44 pm
Yep this is wave 3, the trending wave!