ES Journal Archive (2006 - 2008)

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Quote from Lawrence Chan:

If it is a measured move, then 820 is the first viable target.
But in panic mode, I suspect that will not hold.

So limit down level below 800, especially the 50% level from all time high should provide temporary support.
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Major support at: Thursday 10 October 2002 @ 768.63 $SPX cash low.

If we break that and close below it then there is NO SUPPORT UNTIL ZERO!!!!!!!!!!!

:eek: :eek: :eek:
:confused:
 
Quote from pulsescan:

Major support at: Thursday 10 October 2002 @ 768.63 $SPX cash low.

If we break that and close below it then there is NO SUPPORT UNTIL ZERO!!!!!!!!!!!

:eek: :eek: :eek:
:confused:
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:eek: O! no! That's a horrible thought ( not! ) I guess I'll go back to currencies:D
 
Quote from The Voyager:

There is only one thing that consistently works day after day without exception and that's price.

TV
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No. --The correct way to look at the market is with a combination of indicators and price. Sorry--
 
As I said elsewhere:

I would prefer no intervention - allow the markets to
sell and sell until selling is exhausted and then recover.

But, no, this will not happen .

Expect intervention, in currency markets and PPT ...and the later by Treasury and others.

Place STOPS, take profits, and DON"T GO HOME SHORT THIS WEEKEND!!
 
Quote from Jahajee:

As I said elsewhere:

I would prefer no intervention - allow the markets to
sell and sell until selling is exhausted and then recover.

But, no, this will not happen .

Expect intervention, in currency markets and PPT ...and the later by Treasury and others.

Place STOPS, take profits, and DON"T GO HOME SHORT THIS WEEKEND!!
More...

There is no such thing as PPT. This is the last time we mention PPT here in this journal. Let's move on to trading the ES. Thanks
 
I know we are nowhere near a depression, but who knows what the future holds? Let's remind ourselves how it all started, at which point & after which event markets started to take off? It was after the Democrats announced or rather called for companies to start investing into internet based businesses, after false expectations it all finished in a total fiasco only to be saved by total slashing of the interest rates. Now we find ourselves in another sticky situation where the housing bubble burst causing near collapse of the whole banking industry, which'd have almost definitely taken us into depression of some sort. So we are almost back to where we started before the .com fiasco. I agree with opinions of some other posters that there will be a total overhaul of the entire system. One thing almost certain - they are now working on new plans, which might be introduced after they realise that slashing rates again will not work this time round. Once this liquidation subsides I see metals & and agriculture commodities going through the roof.
 
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