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A second bite at the cherry
- Thread starter Cutten
- Start date
Quote from Cutten:
Yeah I'd say below 895-890, get out (except calls). Above 920 and especially 932, get bullish.
Thanks for the ideas Cutten, it's very helpful to me.
I'm long from 1050 (yeah I know). I think exiting at 895 is not a bad idea.
It just hit 887 as I write this. If I was confident that 837 would hold then I'd prefer to just keep holding. But I'm afraid we'll go to 750 and I'll be wiped out..
Well it broke down pretty convincingly there. I still like Nov calls but there's no denying the market is still acting more bearish than bullish. If we go below the 887 low, a retest of 837 from last Friday is on the cards. I'm stepping aside here on outright longs until it breaks 920/932 to the upside.
To the last poster - don't risk a wipeout, get down to a comfortable size and if necessary get totally flat.
To the last poster - don't risk a wipeout, get down to a comfortable size and if necessary get totally flat.
Quote from Cutten:
If you missed the first rally, this is your chance to get in.
Logical place for stops is around 875 (close stop) or the old lows 837.
918.61 SPX was the 61.8% fib retracement.
884.46 SPX is the .786% fib retracement.
FYI: This most recent push down in the SPX after 9:50am was due to crude falling $2.00 and taking the energy and oil service sector with it. For example, CVX fell 5% off the first half-hour highs.
Oil inventories out at 11am today.
Yep Landis, however this market had the perfect opportunity to hold yesterdays lows and rally today, and it couldn't do it. In these markets I prefer to put discipline above opinion.
The retracement is now 77% of the rally from the lows, that's too far for comfort. If anything it looks like it could be a short rather than a long here, but I'd rather just stand aside.
If 875 breaks then it's in trouble.
The retracement is now 77% of the rally from the lows, that's too far for comfort. If anything it looks like it could be a short rather than a long here, but I'd rather just stand aside.
If 875 breaks then it's in trouble.
Didn't oil inventories come out yesterday at 10:30 EDT?
OK, thanks....then my Econoday news schedule is wrong....lists it as yesterday at 10:35 ET.