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add 119.60

long spy 119.70 tight stop

"AIG's cash squeeze is driven in large part by losses in a unit separate from its traditional insurance businesses. That financial-products unit, which has been a part of AIG for years, sold the credit-default swap contracts designed to protect investors against default in an array of assets...

man that's a classic, two chickens in every pot! WTF?

How would you like to be a market maker in this stock this would give me a heart attack with these swings.

updated es chart reversal set to 2

We have traded 329,593,000 shares on spy already and we are basically flat. mmmm. Looks like the powers that be can move this any way they want. AIG and rate cut on the table. What are the pundits pricing in .50 pt cut or nada?

http://en.wikipedia.org/wiki/Systemic_risk

Short term es point and figure chart set to 1

As one poster said this rolling forward is like doubling down. It works great till, well the spuz drop 100 points in week. I would love to see their p & l at the end of the month.

1180 so close, I would say bounce but SP in their infinite wisdom just downgraded AIG. What a fu**in useless bunch, congress should be investigating these wingnuts. :eek:

I will second Mark's comment no need to rush. This is a tough market with huge swings potentially in either direction. This is from collective 2 as far as system trading: "trading system" is a set of rules or computer algorithms which decide when to buy or sell, and what to buy or sell...

I am not trying to talk down to you but I have no idea of your background from your post. Did you understand system trading if so what is your background and what was the trade?

maybe you can discuss your live trade, what was your position? What was your profit target and stop. There was a guy named Richard Donchian who had what was called the 5/20 system. This was a simple moving average crossover system that went long when the 5 period sma crossed the 20 period sma...

stopped out.

long spy 121.70 .30 cent stop.

http://www.youtube.com/watch?v=Y_8VwZ2oTlw :p

I am sure you all remember when 1490 was resistance, then 1390, then 1290, then 1250, and here we are at 1230 with probable future resistance at 1190, then what. Just sayin.

1180, next stop on the train?

Who really gives a flying f**k . I mean the bottom line is this guy traded/bet/gambled, traded directionally and was wrong. I am wrong just about every day. If someone wants to take a large position and knows the risk, who is anyone else to say how someone should trade. Enough already. Don hope...