Black Monday

Quote from SethArb:

ps the "midnight rally" is in effect ...

if the middle east or elsewhere does not "blow up"
and if europe is not slammed on their "open"

the USA markets will attempt to open higher ( duh )

:p
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is that deducted from ES up 1 and YM up 10 ? :)
 
Quote from eminitrader007:

If we go below 1240, we might see a crash but not right now. If one was to look at the weekly or monthly change in prices, then this market is still in a Bull phase.

We might see S&P around 1240-1260 in few weeks but that still doesn't make it a bear market.

After we get to 1240, there are two possible scenarios.
1) The market cannot support 1240 and we enter a bear market.
2) The market bounces off at 1240 but in the next few months, it cannot break past 1330. Then the sell-off that we'll get is going to be severe. If we get a bounce at 1240, I'll look to buy.

Right now for retail traders with limited capital the best strategy is to short on a 3 day high but if you're long it is probably best to just liquidate at the market.

If someone was to put a gun to my head and ask me where we are headed, I'll probably say 1240----1160 and maybe 1060 before we get to 1330.
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This is my post from 5/13. Last Friday we saw the weeklies close below 1240. The buyers need to come in fast and come in strong here . Tomorrow will probably be a trend day not sure about the direction though. If it is becomes a strong down day, we'll see the crash. At 9.45 EST if it is above the 1.5 hr. range, I'll go long and if it below the range, I'll go short.
 
Can you all feel the tension??


The strongest tech stock (GOOG) on the Nasdaq is finally cratering.

DELL, INTC, BRCM, etc all crapping big.

Along with higher rates, oil, slowing economy, the ingredients are now in for a big tank job, dark days are ahead for equities.
 
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