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S&P getting killed afterhours
- Thread starter krt
- Start date
Originally posted by chasinfla
trdr, it pays to do your homework. Someone (analyst)said today he would not buy networkers...did you hear that?
I did not, but I do know that Jack Grubworm came out and downgraded WCON. Wow talk about a prescient call. He got me out just in time. I was holding from $60 to $0.60 but needed to hear that it was really time to get out from the mighty Jack.
No networks on my buy list, a few closed end bond funds is about it. The only diversified stock index that I could find holding its 200 ma is IJS which I added as a hedge to my shorts today, but if it holds tomorrow I would be surprised.
By the way, PM me when you get your mailbox cleaned up I have a few book recs for you.
Here is some interesting projection made for DOW:
http://www.watermarkresearch.com/page.php?page=TradeOfTheWeek
we are getting close- I would be inclined to look for a bounce around 932 on S&P (950 - trendline on monthly charts)
http://www.watermarkresearch.com/page.php?page=TradeOfTheWeek
we are getting close- I would be inclined to look for a bounce around 932 on S&P (950 - trendline on monthly charts)
Originally posted by chasinfla
i will be surprised if we get past -50 on the naz
...im preparing to be surprised.
Much past -50 would be limit down, wouldn't it? -49 (where it is right now at 2047 PST) is already -4.77 %.
Good thing they raised the limits, eh what?
If the NDX trades to around here, that would fill a gap from early '98. At this moment it looks to blast through notional support levels just under 1000, and then around 988. Onthotherhand, we've seen a lot of afterhours sell-offs and mega-rallies go nowhere the next day, and we haven't had a major gap down on the NDX that just kept on going in the same direction since April, I don't think.
And then there's the FOMC - CW is that it doesn't matter this time around...
Anyway, it'll be interesting from a theoretical perspective to see if and how the index respects all those levels from '96 - '98 that now appear potentially at issue. '99 and '98 levels continually came into play sometimes within a few points, throughout the great Bringdown...
So here's a couple charts, jic you weren't able to find what you were looking for...
Attachments
Originally posted by Thug_Life
Set up married puts and short at the open?
Short into the first bounce?
Neither?
Anyone.....?
Odds favor buying the reaction, at least for daytrading purposes... timing it correctly is something else entirely... Actually, I think that there are more reasonable alternatives - like maybe freebasing cocaine... which is probably what I'll be doing during the first half-hour (like most mornings)...