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Globex 10-08-08


Well,looks like i missed some fun after i left around 3! Tip to all my es thread friends, I have gone over and over it and i keep coming up with the same scenerio,longer term. We are soon to make a low, a major low and it looks like OCT. 14-15th! Doesnt mean we cant go up today, tonite ,whatever, just means the 'huge' cycle will bottom then. O/N the shorter term, closing ticks are still very high indicating continuation of the decline. I do feel that Charter Joes 993.00 square of 9 is going to come into play tonite or ,hopefully tomorrow. Im so sure of that, that i am putting in oco orders to buy 2 es at 993.75 , with a 4 point stop., and a bracket to take profits at 1003.75. GTC.i can change or modify when i get home from work around 6:30 am. Be ready on the 14th,gang, for a potentially huge profit potential on an options play!
I know we are 100's of points away but I am anxious for those 02' lows for a nice call options play. Also Oct 8th 190 degrees of the year is a very good spot for some lows historically, and we are overdue for a nice bounce. But I can only go against the wind for so long....I'll add some calls at 993.
Iknow of a very respected cycle analyst who is in fact calling for a small cycle low around the 7th or 8th so you might be ok. HE also sees the big one around the 10th or so but doesnt get more specific (i think its a 6 year cycle or some such) My best guess is the 14th , but at any rate it is coming very soon ,now! (and should hold for many ,many weeks, but likely not be the end of the bear market!)
gotta go, see ya in the am!
Its amazing how Oct is a lot of times a bottom month for those bear markets or at least a nice bottom, 87, 98, 02's anniversary is 10/11. I am really ready to see a bottom, I wish I would have caught more of this fall from 1100-999. I knew that when the market broke that 1261 we were in serious trouble. I am usually good at going counter trend and then with the trend when needed. Had a good day almost made it all back from Mondays boo boo, and funny thing kool at 3:55 Friday I looked at those calls and said "I have +40 cent and that daily looks like its about to just roll over" I should have taken the money and ran. And then Sunday night I tried to justify my actions on Friday by going long. Hind sight is perfect.

Isn't Euro supposed to meet on intrest rates around 8:00 Est?
quote:
Originally posted by koolblue

... O/N the shorter term, closing ticks are still very high indicating continuation of the decline. I do feel that Charter Joes 993.00 square of 9 is going to come into play tonite or ,hopefully tomorrow. Im so sure of that, that i am putting in oco orders to buy 2 es at 993.75 , with a 4 point stop., and a bracket to take profits at 1003.75....



ES has fallen below 993 (with a low of 981.25 at this point). Will it stop at the next square of nine number - 977?
Seems like i keep having to dig myself out of a hole a lot the last couple of days.... down 8 handles due to an ill advised globex oco last nite....sigh
selling here
short 2@ 994.75,4 point stop
out at the 5 min.boll. avg 991.00. plus 7.5...down half a handle, looking to re-short soon
what the?@?@
out at 977.00.. wow im up 0.5 handles ...and i feel like ive been run over by a truck! Ill watch the open unless 957-8 appears first