Kudos to MMs

Imo 1100 SPX is now 85 delta or higher, and we could see it as early as the overnight session or sometime early tomorrow. I am surprised that there aren't more Black Monday threads popping up, because this is similar to the couple of days that lead to the 1987 Black Monday crash.

In addition, there will be talks of European intervention. Hope. And what does it change?

Holding all shorts from 1220 and 1186 SPX.
 
Congrats on your LUCK, Nitro. Now let's see if you can close the trades with a decent profit. Better yet, if the system could actually time the turn....
 
Quote from kinggyppo:

what does your gut tell you about FV I would get out with a touch of that, to me 1120 is pretty close, anything under that is a gift, that said everyone could panic sell and get back down to 950, why not take a profit, if you are honest you don't know where the mkt is going next could rally or drop 100 handles, the point is to make a buck either way, good trading. :)
More...

it could easily go higher tomorrow, or latest Monday; but seemingly we would go lower first, and then (if we do) reverse intra-day. Recent gaps have taken 1-3 days to 'fill.'

if one 'believes' this is a breakout from a true, reliable H &S pattern (between 8/10-9/21-22) - - - then we did 're-test' the neckline today; downside"objective" thereafter using classic Edwards & McGee T/A analysis - -- would be approx 1030- 1050.
 
Hope is once again gripping the markets that something good will happen over the weekend. It will just be another outstanding opportunity to add to shorts. My target to add is 1172.

Greece should default, exit Euro, devalue the Drachma, and hope the tourists start flocking in. In five years, it can rejoin the Euro. Italy, Spain, Portugal and Ireland, that situation is a complete disaster that probably only has short term solutions. Like a magician that knows how to fool the eye by diverting attention, markets buy central banks and government "action" every time. The market is like a child with Alzheimer's.
 
Quote from nitro:

Calibrated FV, 888.45. FV,
More...

If one went long at the time of the post when FV was falling, he could have made 20 pts by day's end. Reverse strategy is back in business!
 
It is incredibly insightful to go back and watch these videos. Pay close attention to the reactions of the guests:

<object width="640" height="360"><param name="movie" value="http://www.youtube.com/v/2I0QN-FYkpw&hl=en_US&feature=player_embedded&version=3"></param><param name="allowFullScreen" value="true"></param><param name="allowScriptAccess" value="always"></param><embed src="http://www.youtube.com/v/2I0QN-FYkpw&hl=en_US&feature=player_embedded&version=3" type="application/x-shockwave-flash" allowfullscreen="true" allowScriptAccess="always" width="640" height="360"></embed></object>

Peter Schiff could have been wrong, that is not what is important. What is important is how opinions form and elevated almost to religious crusades of righteousness, and how little of the machinery that is global macro-economics is [mis]understood by 90 some odd percent of people that these tv networks on a daily basis put on their screens and espouse as "experts", all the while with a "News" moniker in the upper left corner of the screen. The barrier to entry in this field [Finance/Investing] is lower than the barrier to entry in the public educational systems, with equally catastrophic results. "As long as everyone agrees with me I must be right." The financial counterparts to religious fanatics that are these "experts" abound. No wonder people are exiting markets en-mass.

The same thing is happening again. Open your eyes and you will see new guys/gals arguing almost on the same logical [emotional?] plane. Funnily, some of the characters are the same ones that argued against Schiff!! Doesn't matter to the networks - as long as we are able to pay for it with commercials. [Mostly] Different characters, same misunderstandings, same religious crusades.
 
You must log in or register to reply here.
Back
Top