Leo- I'm trying to play the same strategy. Instead of going long, why not keep a small open short position? This way if the market continues down you atleast had something on the table. I plan to add to my index puts next week if do get a bounce. Some of the GANN guys suggested 1100+ but I think 1080 will serve as the top based on current price action and the similiarities between the 1975 index charts.
Hi Red, thanks for your reply Regardless of the SPX level projected for Oct7th- IT should show some obvious technical deficit at that time 1080 to 1108, sure why not, but the actual level matters not. According to natural energy, OCT 12th and or part of 13 has some potential for another type of OVERTHROW such as Spt 23rd before the BIG declines begin. in OCT 2007 it took 4 days at the 14k level to finally give way. WE might get something similar next month also. Yes , I think they are finally set to head to my projection of spx 1000 by Friday at 10am. Light volume yesterday was due to lack of participation from my bretheren who were celebrating Yom Kippur. Jay
Hi Red, thanks for your reply Regardless of the SPX level projected for Oct7th- IT should show some obvious technical deficit at that time 1080 to 1108, sure why not, but the actual level matters not. According to natural energy, OCT 12th and or part of 13 has some potential for another type of OVERTHROW such as Spt 23rd before the BIG declines begin. in OCT 2007 it took 4 days at the 14k level to finally give way. WE might get something similar next month also. Yes , I think they are finally set to head to my projection of spx 1000 by Friday at 10am. Light volume yesterday was due to lack of participation from my bretheren who were celebrating Yom Kippur. Jay
That's assuming that the P2 is at 1080 and we are in wave one down. What if P2 isn't in yet?
If P2 is in then, your projection is accurate, as the next wave down would be a wave 3 inside the first wave one down of P3, but…
WE NEED VOLUME!
And it's not here yet. October 5th-7th should mark the high. Now… whether or not that's 1080 or 1100-1108 is anyone's guess. I've just been burnt too many times in the past when the volume was light.
The PPT, or whoever, always comes in like the Lone Ranger to save the day… just when the market is ready to tank!
Let's not forgot about “end of the month” (and quarter) window dressing. It happens, I can't stop it, so I have too factor it in with my predictions.
Tell me where you think the market is going if the 1080 mark isn't the P2 top? Give me both scenarios. Let's try to figure out which one is the correct one, so we both can profit from it.
I have got to pay more attention to some things that I tend to ignore at the wrong times I had posted a few pertinent things last week 1040 spx was first important level and they bounced off with a 62% retrace to 1065. the next important level seems to be spx 1000 and the pieces seem to fit. 39 x 62% = 24 + 1051 = 1065 39 x 1.618 = 65 1065- 65 = the next level of spx 1000 cycle still points to PIVOT LOW on Oct2nd at 10am Jay
That's assuming that the P2 is at 1080 and we are in wave one down. What if P2 isn't in yet?
If P2 is in then, your projection is accurate, as the next wave down would be a wave 3 inside the first wave one down of P3, but…
WE NEED VOLUME!
And it's not here yet. October 5th-7th should mark the high. Now… whether or not that's 1080 or 1100-1108 is anyone's guess. I've just been burnt too many times in the past when the volume was light.
The PPT, or whoever, always comes in like the Lone Ranger to save the day… just when the market is ready to tank!
Let's not forgot about “end of the month” (and quarter) window dressing. It happens, I can't stop it, so I have too factor it in with my predictions.
Tell me where you think the market is going if the 1080 mark isn't the P2 top? Give me both scenarios. Let's try to figure out which one is the correct one, so we both can profit from it.
Leo- I'm trying to play the same strategy. Instead of going long, why not keep a small open short position? This way if the market continues down you atleast had something on the table. I plan to add to my index puts next week if do get a bounce. Some of the GANN guys suggested 1100+ but I think 1080 will serve as the top based on current price action and the similiarities between the 1975 index charts.
I got out of my long around 1060 and went short today. Not sure about going long for next week, but I'm out of my short by Friday.
I got out of my long around 1060 and went short today. Not sure about going long for next week, but I'm out of my short by Friday.
2:45
Has your game plan changed any?
Hi Red,
thanks for your reply
Regardless of the SPX level projected for Oct7th-
IT should show some obvious technical deficit at that time
1080 to 1108, sure why not, but the actual level matters not.
According to natural energy, OCT 12th and or part of 13 has some potential for another type of OVERTHROW such as Spt 23rd before the BIG declines begin.
in OCT 2007 it took 4 days at the 14k level to finally give way.
WE might get something similar next month also.
Yes , I think they are finally set to head to my projection of spx 1000 by Friday at 10am. Light volume yesterday was due to lack of participation from my bretheren who were celebrating Yom Kippur.
Jay
Hi Red,
thanks for your reply
Regardless of the SPX level projected for Oct7th-
IT should show some obvious technical deficit at that time
1080 to 1108, sure why not, but the actual level matters not.
According to natural energy, OCT 12th and or part of 13 has some potential for another type of OVERTHROW such as Spt 23rd before the BIG declines begin.
in OCT 2007 it took 4 days at the 14k level to finally give way.
WE might get something similar next month also.
Yes , I think they are finally set to head to my projection of spx 1000 by Friday at 10am. Light volume yesterday was due to lack of participation from my bretheren who were celebrating Yom Kippur.
Jay
Jay,
That's assuming that the P2 is at 1080 and we are in wave one down. What if P2 isn't in yet?
If P2 is in then, your projection is accurate, as the next wave down would be a wave 3 inside the first wave one down of P3, but…
WE NEED VOLUME!
And it's not here yet. October 5th-7th should mark the high. Now… whether or not that's 1080 or 1100-1108 is anyone's guess. I've just been burnt too many times in the past when the volume was light.
The PPT, or whoever, always comes in like the Lone Ranger to save the day… just when the market is ready to tank!
Let's not forgot about “end of the month” (and quarter) window dressing. It happens, I can't stop it, so I have too factor it in with my predictions.
Tell me where you think the market is going if the 1080 mark isn't the P2 top? Give me both scenarios. Let's try to figure out which one is the correct one, so we both can profit from it.
Thanks Douala… I'll try to post as often as I can. I did another post today, for Tuesday and Wednesdays' outlook.
I have got to pay more attention to some things that I tend to ignore at the wrong times
I had posted a few pertinent things last week
1040 spx was first important level and they bounced off with a 62% retrace to 1065. the next important level seems to be spx 1000 and the pieces seem to fit.
39 x 62% = 24 + 1051 = 1065
39 x 1.618 = 65
1065- 65 = the next level of spx 1000
cycle still points to PIVOT LOW on Oct2nd at 10am
Jay
Jay,
That's assuming that the P2 is at 1080 and we are in wave one down. What if P2 isn't in yet?
If P2 is in then, your projection is accurate, as the next wave down would be a wave 3 inside the first wave one down of P3, but…
WE NEED VOLUME!
And it's not here yet. October 5th-7th should mark the high. Now… whether or not that's 1080 or 1100-1108 is anyone's guess. I've just been burnt too many times in the past when the volume was light.
The PPT, or whoever, always comes in like the Lone Ranger to save the day… just when the market is ready to tank!
Let's not forgot about “end of the month” (and quarter) window dressing. It happens, I can't stop it, so I have too factor it in with my predictions.
Tell me where you think the market is going if the 1080 mark isn't the P2 top? Give me both scenarios. Let's try to figure out which one is the correct one, so we both can profit from it.