those targets get blown when price cascades out of the channel, since others might get long.. thinking the samething.
wtf was that at 4pm. huge high vol selling
- Thread starter stock777
- Start date
Full confession:
I may be out of my mind on this.
It's just that I suspect that the index is going to try 1500 one more time. I could be wrong. If you look at a chart -- SPX since 03/27 to 06/25 -- it looks like a downtrend. I am looking at IB charts for SPX from 03/27 to 06/25, 3 months with a day bar -- which shows that next support at 1497.75 -- if this is just a "dip," then there may be support here. But bear in mind that this sub-prime fiasco may not have played out yet. Let the buyer beware!
What am I smoking? That chart shows next support at 1490.59 on the SPX! Looking at the 06/07 bar. But that would give us about 1503.00 on the ES. Yippee! or not? I don't know! It's getting bad! I am mixing up the cash with the futures! Buy boys, buy! SAVE ME!
I may be out of my mind on this.
It's just that I suspect that the index is going to try 1500 one more time. I could be wrong. If you look at a chart -- SPX since 03/27 to 06/25 -- it looks like a downtrend. I am looking at IB charts for SPX from 03/27 to 06/25, 3 months with a day bar -- which shows that next support at 1497.75 -- if this is just a "dip," then there may be support here. But bear in mind that this sub-prime fiasco may not have played out yet. Let the buyer beware!
What am I smoking? That chart shows next support at 1490.59 on the SPX! Looking at the 06/07 bar. But that would give us about 1503.00 on the ES. Yippee! or not? I don't know! It's getting bad! I am mixing up the cash with the futures! Buy boys, buy! SAVE ME!
trader225, from your increasingly hysterical posts it's obvious you're not thinking rationally. You're getting excited about minor after hours moves which have very little bearing on what will happen when the equity markets open tomorrow. I recommend you close all your positions, take the rest of the week off and go and do something you enjoy like a long weekend of fishing, golf, clubbing or whatever. This will help clear your mind so you can get back to rational trading next week.
I just shook my little 8 ball. It said,
"there will be no rate change"
Fed will say "we are watching inflation and will think about it. The economy was very robust. Housing had some soft patches that look to be moderating soon."
Stock market will pullback at 1st, then rally hard into the close. TA readers will call a broadening triangle formation that must crash in next two weeks.
Of course, my 8 ball hasn't been performing as well as my dart tosses lately, but I figure it usually beats my logic... so, there's my 2 c.
"there will be no rate change"
Fed will say "we are watching inflation and will think about it. The economy was very robust. Housing had some soft patches that look to be moderating soon."
Stock market will pullback at 1st, then rally hard into the close. TA readers will call a broadening triangle formation that must crash in next two weeks.
Of course, my 8 ball hasn't been performing as well as my dart tosses lately, but I figure it usually beats my logic... so, there's my 2 c.