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.
I was thinking we might go up to 1185-1186 tomorrow, and then fall on down to that 1175 area… at which point, that should match up with your 195 min long setup. Am I figuring that out correctly?
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.
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the time element may help us here
the shortest downward thrust of the current bull was 9 CD
the longest downward thrust of the current bull was 27 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
I was thinking we might go up to 1185-1186 tomorrow, and then fall on down to that 1175 area… at which point, that should match up with your 195 min long setup. Am I figuring that out correctly?
the 195 min setup is getting real close to a long setup
$SPX currently has 4 consecutive lower closes than opens on the 195 min
Well, I panicked and sold my put spread early, at the first low of the day. I'll be looking to get back in on a bounce… if we have one tomorrow?
Carl at day’s end:
1198-1210 estimate for today (12 points)
1177.50–1208 actual today (30.50 points)
Carl did ok on the high, missed the low. Didn’t anticipate the news event.
Trade: No trades today.
Grade: C (made no money)