It's hard to say about today, as we could see some panic selling from the retail investor in the morning, and then a bear squeeze taking it back up to 114.80 spy in the afternoon, or it could just gap open and rally higher first?
Then sell off into the close, to the 109.65 spy target into the close. That seems too easy really though, as everyone will go short any rally up in the morning. Which leads me to believe it will swing wildly both ways today, whipping out both bulls and bears.
June S&P E-mini Futures: I estimate today's day session range will be 1108-1138. It will probably take a couple of days to restore stability, but I believe that the next big move will be upward to new bull market highs.
1056–1165 actual yesterday (109 points – ~7 times the usual range) 1113.50-1135.50 range last night (22 points – ~2 times the usual range) 1108-1138 estimate for today (30 points – ~2 times the usual range)
1131 currently, so estimate is -23 to +7 from here (wildly bearish)
Hey, Red, I caught your comment about the market being controlled over on Cobra's site, and came over to check out your blog. Very nice! Yes, it's like a friggin' trip to the proctologist. We're up against the big boys and their vassals in the Fed, Fedgov, the press, and our own brokers.
I'd like to offer an alternate reading of your data points with a slower time frame, because our masters are nothing if not patient. How about a target of 109.65 in this move (which may or may not include a small rally in the meantime), a rally to 114.8, and then the final blow to 105, followed by a bull market high of Dow 11,816?
Yesterday was great, but I didn't get the most out of it like the Masters of the Universe do. I dumped my AAPL puts (of which I wish I had more) when the stock hit 240, and I'm still sitting on SDS at less than 33. I actually had my finger on the sell button when it hit 36, but I often sell before a trend fully develops, so I disciplined myself and hung back. Mistake! I hope I can get a decent price for it today. It was an impulse buy, got to find something more volatile for the next leg down. I think we pretty much have to have one in order to bring in the suckers, but I may be wrong.
I understand how you feel my friend… it took me by surprise too, as I was expecting another sideways to slightly down day. So, I had an appointment set up that I had to go do, and unfortunately, I was out of cell range and didn't have access to a computer.
I wasn't able to get out at the bottom, but I'm still up big on my short position, so I'm OK. Glad to see you make some profit. More is coming…
The Monthly charts still have room to go higher, I still believe we will hit DIA 118.16 (the ETF for the DOW) in mid-summer sometime. That's around DOW 11,816 and I'd estimate about 1270-1280 SPX.
Maybe the market is going to 1096, then 1140 and then 1050!
Maybe the market is going to 1096, then 1140 and then 1050!
That seemed real. Good acting.
His Viagra wore off yesterday…
http://www.screencast.com/users/prsguitars/fold…
Here's a guy on the suicide watch list now…
http://www.youtube.com/watch?v=xqKAPRWFKZ4
It's hard to say about today, as we could see some panic selling from the retail investor in the morning, and then a bear squeeze taking it back up to 114.80 spy in the afternoon, or it could just gap open and rally higher first?
Then sell off into the close, to the 109.65 spy target into the close. That seems too easy really though, as everyone will go short any rally up in the morning. Which leads me to believe it will swing wildly both ways today, whipping out both bulls and bears.
Carl’s morning call:
June S&P E-mini Futures: I estimate today's day session range will be 1108-1138. It will probably take a couple of days to restore stability, but I believe that the next big move will be upward to new bull market highs.
1056–1165 actual yesterday (109 points – ~7 times the usual range)
1113.50-1135.50 range last night (22 points – ~2 times the usual range)
1108-1138 estimate for today (30 points – ~2 times the usual range)
1131 currently, so estimate is -23 to +7 from here (wildly bearish)
Hey, Red, I caught your comment about the market being controlled over on Cobra's site, and came over to check out your blog. Very nice! Yes, it's like a friggin' trip to the proctologist. We're up against the big boys and their vassals in the Fed, Fedgov, the press, and our own brokers.
I'd like to offer an alternate reading of your data points with a slower time frame, because our masters are nothing if not patient. How about a target of 109.65 in this move (which may or may not include a small rally in the meantime), a rally to 114.8, and then the final blow to 105, followed by a bull market high of Dow 11,816?
Yesterday was great, but I didn't get the most out of it like the Masters of the Universe do. I dumped my AAPL puts (of which I wish I had more) when the stock hit 240, and I'm still sitting on SDS at less than 33. I actually had my finger on the sell button when it hit 36, but I often sell before a trend fully develops, so I disciplined myself and hung back. Mistake! I hope I can get a decent price for it today. It was an impulse buy, got to find something more volatile for the next leg down. I think we pretty much have to have one in order to bring in the suckers, but I may be wrong.
I understand how you feel my friend… it took me by surprise too, as I was expecting another sideways to slightly down day. So, I had an appointment set up that I had to go do, and unfortunately, I was out of cell range and didn't have access to a computer.
I wasn't able to get out at the bottom, but I'm still up big on my short position, so I'm OK. Glad to see you make some profit. More is coming…
Yes Crash,
The Monthly charts still have room to go higher, I still believe we will hit DIA 118.16 (the ETF for the DOW) in mid-summer sometime. That's around DOW 11,816 and I'd estimate about 1270-1280 SPX.