$DJI closed right on brown containment that has been holding it since 4.12.2010, could get rather interesting should brown containment fail http://www.flickr.com/photos/47091634@N04/45582…
Think we will have a similar scenario to the last drop in Jan. Maybe that will get us to the fake print in 2 weeks (around 1080)?! And then we can go back up to the 11816 number which should take a while. I am not getting long for a while.
Supports breaking all over the place, has i told yesterday. Now i am looking also @ some forex crosses, namely shorting AUD against some other currency, maybe usd maybe jpy. I will update the crosses when i enter the trade in the next few days. I updated the index charts from yesterday. Hey Ho Let´s Go.
Going to cover the rest of my shorts tomorrow. Red, I believe it will be another down day but Thursday you will probably get an opportunity to short again.
When we hit that 1175 area, and get our bounce, do you think you will be able to tell if it's the end of the correction… in which case we go higher into the summer months, or only a bounce and a continued move down is likely?
I just see so many more open interest contracts on the May Puts, that I find it unlikely that they will want to pay out on all of them.
Well, at least that gives me a little hope that it will bounce from it tomorrow, and give me a chance to go short again.
Well, I can't read Spanish, but I think I'm now following you? I just guessed at the buttons and text.
$DJI closed right on brown containment that has been holding it since 4.12.2010, could get rather interesting should brown containment fail
http://www.flickr.com/photos/47091634@N04/45582…
Think we will have a similar scenario to the last drop in Jan. Maybe that will get us to the fake print in 2 weeks (around 1080)?! And then we can go back up to the 11816 number which should take a while. I am not getting long for a while.
Supports breaking all over the place, has i told yesterday. Now i am looking also @ some forex crosses, namely shorting AUD against some other currency, maybe usd maybe jpy. I will update the crosses when i enter the trade in the next few days. I updated the index charts from yesterday. Hey Ho Let´s Go.
http://midasfinancialmarkets.blogspot.com/
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the time element may help us here
the shortest downward thrust of the current bull is 9 CD
the longest downward thrust of the current bull is 27 CD
Downward thrust
#1 = 27 CD
#2 = 9 CD
#3 = 12 CD
#4 = 17 CD
Going to cover the rest of my shorts tomorrow. Red, I believe it will be another down day but Thursday you will probably get an opportunity to short again.
When we hit that 1175 area, and get our bounce, do you think you will be able to tell if it's the end of the correction… in which case we go higher into the summer months, or only a bounce and a continued move down is likely?
I just see so many more open interest contracts on the May Puts, that I find it unlikely that they will want to pay out on all of them.
Volume off the top on the IWM
5 mil short of it's 2.5.2010 low
trumped 4.16 volume
pretty close
*IF* the $VIX prints 24.63 & $SPX gets in the 1175 area I would definitely lighten up highly levered short positions