Thursday, October 1, 2009

So whats going to happen next?

Anyone has a guess here? Too oversold to add any shorts, too afraid to go long (yeah as always). Just watching it here ....

16 comments:

  1. just took a decent size long position here @ ES 1034 with a very tight stop. I will move stop to break even once we get a bit higher.

    Lets see how it plays out. The perfect plan of course would be using this as insurance to continue to scale into shorts if we go higher.

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  2. where's the next support after 1040?

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  3. I'm in SSO as well, let's hope it works out for us. Hopefully we'll get a bounce and not just keep grinding lower.

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  4. yeap - I got stopped out earlier but tried again a second time @ 1032.25.

    Just want to be prepared for the dip buyer crazyness ... if I get stopped out YAY for me as my long term puts will take care of the rest. Those took quite a bit swing in the past few days. Nice to see something working at least.

    Wish I had kept my puts yesterday (yeah not beating myself up). Most of them are up 60+% from yesterday exit price.

    We will get them again - its only 20 points with another 400 to come.

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  5. Chris that is the spirit -- 400 to go. I like it. you expect about 50% retrace here? 1044? 1050?

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  6. well lets see. It should at least get back 5 points. After that we have to see if we continue to sell off hard or stay flat.

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  7. everyone was looking for 1040 break. we hope this si not a repeat of break of H&S neckline to see another 100 spx point up. we will never know but now many technical confirmation are in place.

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  8. Looks like a close at LOD. am flat now. 1020 in the cards Chris her?

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  9. do you remember from a few weeks ago ... I think mid august I was talking about the importance of 1014 ... I am looking for this to get to 1014-1018 first.

    This will give us a chance to go long, and add LOTS of shorts once we get back to 1040. And I mean lots of shorts there .....

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  10. Haven't seen the market take a dump at EOD for a long time now...

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  11. oh yeah ... days like this are really painful to look at for most bears. You have a big drop overnight, another drop in the first 15-30 minutes, then just a super narrow range for remainder of the day.

    Unless you were short from yesterday, nothing to be had here - just beautiful to look at. Considering I have been waiting for the drop for a WHILE and only being invested <25% short at this point. Its painful.

    Well - I made some money today, thats all that matters, just wish I'd be using more buying power - and wish I had been a bit more patient yesterday.

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  12. so how did everyone make out today? I hope you all had great gains and were able to lock in some profits.

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  13. I was net short since yesterday, but still only with very little of my capital. About 25% like yourself. Been screwed TOO many times during this rally. I will continue to add short VERY carefully....

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  14. I hear that 1020 is the next stop. maybe tomorrow am and then get ready to go long for a short bounce.

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  15. yeah I agree ... lets see what we do here tomorrow before the open with jobs data.

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  16. I held on. But I'm concerned about the continued drop at EOD. I'm hoping we get a bit of a pop up tomorrow.

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