To get it right, I don't have a short position and I'm now waiting to see if SPX manages to climb back above a) 1317 and b) the hourly 33 MA which is approx. at 1330... And the target 1235 I mentioned is the target if this H&S gets triggered...
Yes but lets get thru the 1300 area. We have very strong support/restance and we may have a hugh amount of dippers in this area and could lead to a fair up move.Lets see.
alvian33 wrote:I doubt we go much lower today, may be few more points....
Cobra,
is it necessary for us to retest 1305.xx again before uptrending or not?
I think I've answered the same question: no, it's not necessary, already did back test, not 3rd touch is ok.
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The margin accounts out there is huge. Watch when margin calls coming in. Should be very interesting.
Unless Uncle Benny starting QE3 very soon...otherwise market is slowly bleeding away.
KENA wrote:
99er wrote:Mr. T: "uempel's right: 1235"
Gee...and I thought I was bearish.
Yes but lets get thru the 1300 area. We have very strong support/restance and we may have a hugh amount of dippers in this area and could lead to a fair up move.Lets see.
Those bears tried to make my gold chains!!! I sold them some gold colored chains at a premium...... the foo's!
You still long? Still kissing?
yo t,
considering the super long process to change name, i guess i will be soku for a little bit longer than expected.
this week is a perfect trader's market. swings are clean and clear and fast. i exit at 1315.25. plan to add some around 1310-1311.
The goal is not uniformity. It is understanding and idea exchange.
Those bears tried to make my gold chains!!! I sold them some gold colored chains at a premium...... the foo's!
You still long? Still kissing?
yo t,
considering the super long process to change name, i guess i will be soku for a little bit longer than expected.
this week is a perfect trader's market. swings are clean and clear and fast. i exit at 1315.25. plan to add some around 1310-1311.
Soku,
You should've been Yoku today b/c it was up $2.71. I've been watching Dang and Yoku evreyday.
Here is an update on oil. It is moving along the projected path well but here is where I become neutral on it. You can clearly see a triangle or even a possible head & shoulders bottom on it. I can't discount anything here so I'm out of my short. Actually, I got out yesterday a bit too soon, but not regretting it. Look at that reversal. Just be careful if you're short crude. Wait for this path to take shape.
nothing to say. new channel but the bigger picture, this is a bear flag - just as bears wanted.
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