Posted by cwa82675 on 25th of Feb 2009 at 11:24 am
just posted this as a private message and thought it would be
good here as well. "yes the market is very tricky here. I am
not sure what it is going to do here, thats why I am making quick
trades. If I had to guess I would say we bounce up to test
the triangle breakdowns before we make a final low down to the sp
600 area. I have been waiting for that low for some time and
the 600 area was always the target, so I do think we get there; but
whether we drop straight down from here, or we have a decent rally
up to the sp 830 area before we fall hard is up to the
market. I am in the longs, but I dont feel comfortable
yet and have stops (which happen to be just below the days
lows). I also shorted srs at 76 with a stop at 77, skf at 176
with a stop at 180 and went long sso at 18.24-27 with a stop at
18.10 and 18. its up to the market now..."
edit - I am starting to feel a little more comfortable in my
longs now
Posted by junkmaylbox on 25th of Feb 2009 at 12:01 pm
I don't think we would backtest the broken triangle at 822. I am
going to load shorts are the 790 resistance. I am 50% invested on
the long side now and hold them merely because the market is so
oversold that it would not break down here. I will be out of longs
in a day or two, after 780 is broken to the upside. If we ever get
there, of course.
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just posted this as a
Posted by cwa82675 on 25th of Feb 2009 at 11:24 am
just posted this as a private message and thought it would be good here as well. "yes the market is very tricky here. I am not sure what it is going to do here, thats why I am making quick trades. If I had to guess I would say we bounce up to test the triangle breakdowns before we make a final low down to the sp 600 area. I have been waiting for that low for some time and the 600 area was always the target, so I do think we get there; but whether we drop straight down from here, or we have a decent rally up to the sp 830 area before we fall hard is up to the market. I am in the longs, but I dont feel comfortable yet and have stops (which happen to be just below the days lows). I also shorted srs at 76 with a stop at 77, skf at 176 with a stop at 180 and went long sso at 18.24-27 with a stop at 18.10 and 18. its up to the market now..."
edit - I am starting to feel a little more comfortable in my longs now
I don't think we would
Posted by junkmaylbox on 25th of Feb 2009 at 12:01 pm
I don't think we would backtest the broken triangle at 822. I am going to load shorts are the 790 resistance. I am 50% invested on the long side now and hold them merely because the market is so oversold that it would not break down here. I will be out of longs in a day or two, after 780 is broken to the upside. If we ever get there, of course.