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I agree, but a lot of folks are going to start trying to catch falling knives. (It's best to wear thick gloves when you do that.)

Critical juncture here. If we break below 1457, next target is 1432.

Closing out 1/3 of my position here. Still 2/3 short.

Yes, it was a character-building experience.:) Hopefully we're about to fall off the cliff and my patience will be rewarded. Nearly at the AH LOD, and the question is what it'll do when it gets there.

Okay, go ahead and say it...I was just a trifle early getting short :), and was treated to a lovely guided tour of the 1480s. However, still short here, and still looking for a retest of the AH lows and perhaps beyond. Looks to me as if this morning's action has been a big pennant continuation...

Short here at 1478.

I figure Jim will know before I do. :) Yes, but not Charles Schwab. I've considered opening a futures trading IRA account with another broker, but haven't done so yet. For the moment, my trading in my IRA account is confined to ETFs and options.

Yeah, my retirement account is more than 50% in cash and the rest in investments that are fully hedged against general stock market risk or in non-US markets. As mentioned here many times before, I'm expecting the start of a multi-year secular bear market sometime in 2008, but I'm not smart...

Post I made one week ago (11/1/07): In early AH trading, we've touched 1466.75, which is close enough. Regardless of whether we go up or down from here in AH, I would expect that we'll revisit this level in Thursday's RTH. What happens next will tell the tale. If B1S2 hung onto his...

Our gracious host B1S2 hasn't posted for quite awhile, but if he stuck with his full-position short from 1511 (as I suspect he did), he made 30 points today. Congratulations, sir!

Looks like I got stopped out of my remaining SDS position at 52.80. Guess I can't complain. Now flat. (Now watch ES drop like a rock.)

That spike missed my stop by one penny. (Low 52.81, stop at 52.80.) Still not seeing bearish divergence, so I figure it's only a matter of time (not much) until I'm stopped out. Then again, maybe the Plunge Promotion Team will come in and rescue me. :)

B1S2, you still short full position from 1511?

Raised SDS stop another 30 cents to 52.80. Unfortunately, I'm NOT seeing the bearish divergence I'd like to see here for another leg down. BTW, I tried to sell another 1/3 of my position near LOD (at SDS 53.50) but the damned computer locked up during the volume spike and I had to reboot and...

SDS... <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1670128>

Still hanging in there short (SDS). Raised my stop to 52.50 (roughly equivalent to 1502 ESZ). If not stopped out, my current plan (subject to revision at any time) is to sell another 1/3 at a retest of LOD and then let the final 1/3 ride overnight.

Taking some profits here: sold 700 of my 2000-share position in SDS at 52.99 for a 3.3% profit ($1200). Still holding 1300 shares with unrealized gain of $2200. Not bad for a day's work. Setting a hard stop on the remaining position about 1.5% below current levels, and will trail the stop...

Fell short by 4 ticks. 50% retrace is 1501.50. 61.8% is 1502.50.

Fooled me. This one retraced to 61.8% instead (to the tick). Spooz, from your keyboard to God's flat-panel display! :) EDIT: Next measured move target is 1496.25. (1509.50->1500.00->1505.75->1496.25)

This downmove was expected, but having it occur over the lunch hour was not. EDIT: Measured move target here is 1499. (1515->1504->1510->1499) EDIT: 1499 would also correspond to an interesting psychological level in the DJIA of -200 points. EDIT: Well, 1500 is close enough. Every...