S&P daily pivots and break-down & up Targets

I think most would, even though we make money on movement
up or down, this market is depressing everyone I talk to
and it is having a very negative effect on there spending habits
and overall way of looking at things

You can see a rescission unfolding right in front of your eyes

So I am with you on your thinking on a wash out bottom
however it may not happen this time

:(


So far anyone that bought this market and did not take quick profits has been liquidated
 
Typical late-stage bull market action. People buy thinking that stocks can only go up. . .we get a moderate correction and a short recession and they blow out their accounts never to return.

The few that survive with their psyche intact may lose some money (hopefully didn't risk everything, since they had to know this would be a prolonged learning experience) but will be better for the wiser from here on.

Live an learn.gA

I am pretty certain we will soon see capitulation. But in the meantime, I am looking to add short NQ contracts if this bounce can approximately double.

:p
 
Careful now..............lol

Fannie & Freddy are getting backstopped @ 2.25 %
for any money borrowed from the FED plus a large increase to there already 2.5 billion credit line

This is what is causing the run up in the futures

pivots are 1252, 1255, 1264, 1270, 1274 for ES

Line in the sand is 1245.50

1239, 1234, 1230,1225,1218,1215


break out 1246-1264

break down 1231-1215
 
ok, see you there in the am

I will pray that the market holds this rally
for you and your long positions

I am sure you see the news out about Fanny & Freddy
getting 15 BILL. from Fed

They really are to big to fail.........Yeiks if they ever do
 
Ty for the prayers Joe.
Yes I saw the futures found the reason and am also cross fingered on this.
I got into this mess...get me out lol.

Looks like tax payers getting the bill again.

But that seems the norm in our america's.
 
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S&P Numbers for Monday
 
Joe, where is your trading room located...I haven't seen any thing posted where it is, but see people talking about it..thanks

scott
 
"Wall Street will get a better sense of how concerned investors are with Fannie Mae and Freddie Mac's future immediately Monday morning. Freddie Mac is scheduled to hold its weekly debt auction beginning at 8 a.m. EDT. The auction closes at 9:45 a.m., shortly after U.S. markets open."

Anyone know how this went?

Seems the "heady" gains by FRE & FNM were quickly relinquished.

Now that we are at the "line in the sand" we shall see where we go from here - go daytraders, go!

pay$
 
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