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In that spirit... A 50% retrace of the downmove from the 1558.75 swing high to the 1508.00 low made this morning in AH would put us at 1533-1534. That correlates with a strong S/R level that has been a factor numerous times in the recent past. If we rally today into the low 1530s, that would...

Guess you must've missed this posting that I made yesterday.:)

My preference is a Bach Brandenberg Concerto. (Probably because I majored in math.) But Mozart and Vivaldi will certainly do in a pinch. Nice to see a little class around here for a change.:)

I didn't average either way. I went short full position early, sat tight while taking some heat, and my patience was nicely rewarded at EOD. Don't you just love it when a plan comes together?

So, do you consider it negated? :)

Wow! I am bowled over by your originality and profundity. Gosh, ever consider writing a movie script?

Looks like I'll get a chance to do that at a better price than where I closed out. A $50K runner won't interfere with my beauty sleep; a $200K position would have. I guess that pretty well calibrates my wuss threshold! :)

Just closed my entire $200K position in SDS (double short S&P 500 ETF) for a very very nice profit...haven't even calculated it yet. Now flat. Too much adrenaline rush for me to handle.

I just stuck a fork in this bull, and he's done. Still short full position. EDIT: Yessss!!!! Been waiting all day for this. EDIT: There goes -300 on the DJIA.

Bulls not putting on a very impressive performance. I think the bears have it. (The close, that is.)

Intermediate-term perspective: Measured move calculation... HI 1586.75 (10/11/07) LO 1492.50 (10/22/07) HI 1557.75 (10/31/07) --> Projected LO 1464 Coincidentally, 1464 would be precisely a 61.8% fib retracement of the advance since the August swing low before the first Fed...

You mean hold LONG? I'm seriously thinking about holding SHORT over the weekend.

Nice downside breakout from a bear flag or pennant (depending on which chart I'm looking at). Resistance at 1527 is all that stands between here and LOD, and hopefully we're about to penetrate that resistance. I'm patiently holding my full position in SDS (double short S&P 500 ETF), on which I...

1530 should now be resistance.

Broken the back of 1530 support...down we go!:) Not trading ES today (still on the road), but a big bet on SDS double-short S&P 500 ETF.

Now THAT'S FUNNY!!!

In the last 4 hours, I see both a double bottom at 1541.25 and a double top at 1543.75, so on that basis it could go either way. Based on the "tails" I'm seeing on my 15- and 5-minute charts, resistance looks stronger than support, so I'm betting we go lower...but I certainly could be wrong.

In AH, ESZ picture-perfect 50% retracement to the tick: 1546.25 to 1541.25 to 1543.75. Amazing how that works. Now back down to LOD. I'm going to bed...headed to the airport in the early AM and flying my airplane from Albuquerque to Tulsa, where I'll be until next Monday before returning home...

Only if you spell my name correctly. Here's something that may help you remember: bush=iraq busch=beer :D :D :D

Do I understand this right: For Apex to lose, ES must rise 75 handles from the close, but for you to lose, it must fall 175 handles? Haven't you stacked the deck just a bit, Chris?