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Well, here we are exactly where we are supposed to be. As per my posts the last several weeks i expected a panic low around the 15th, 1210-1211 or the other number i gave 1177. im long 2 es at 1177 and holding over nite. The news all day was horrible , even scary. the vix got over 30, and my downside number has been achieved. I went 100% my 401k at the close today.Is this a significant bottom? ALLthe pieces seem in place, but a rate cut by the fed would help. Time will tell.
Out at 1282.50, not fast enough! Wow, 24 handles on that trade, but because i tried to bracket the fed im up 27.50 today.
Bloomberg reporting AIG may get Fed loan package. Nice timely out Kool.
order to buy 2@ 1192.25
very lucky out! this kind of news driven market is really hard to trade. my long term views remain in force however.
next stop...1217?
Im going to have to sit the rest of the day. One brilliant globex trade, one completely idiotic trade(and fill!) and im up over 25. i am one lucky s.o.b.!
Bloomberg news of Fed "mulling" AIG loan package just hit the DJ wire. When CNBC carries it we may get 1217. LVA from yesterday is 1213.0.
i believe we will test the 200 day mov. avg. in a few weeks (normal bear behavior). It would not be surprising to revisit and retest the low once before then however.I dont think ive ever seen the 45 day cycle peak before at least 3 weeks before. And the 120 day should provide some support till at least the late oct. early nov. time frame
Best guess, (based on short term cycles) we peak today, slowly trend down into fri. then up good next week.
LEH has halted trading
Hit 1217 exactly as it should have, gotta go 2 work, see ya manana!