GLOBEX 10 -14-08
ORDER TO SELL ONE AT 1029.75, 2.5 STOP
mAN, EVERYTIME I THINK IVE SEEN IT ALL, THIS MARKET UP AND SURPRISES ME!...COVERING 1026
WOW, UP 3.75 O/N THE SESSION... WONT EVEN LET ME TYPE TONITE!
im looking at 1060, and 1101-1107 longer term to contain this market. The expected low was apparently fri. (off by 2 days ). On my daily work i seem to continually be off by 2 days. IN sept., i thought the low would be the 15-16th and it hit on the 18th. Again off by 2 days here. So any future 'predictions ' on the longer term from me, you might want to keep that in mind! The long awaited rally is upon us but i expect it to be relativly short lived and fully expect a decline to test the low again at some point. Unfortunately , none of the govt. actions so far are going to instantly restore confidence to the banking system overnite! Might want to keep that in mind.
Markets heading for those gaps at 1100. LOL the news media thinks the market tanked because of econ reasons it turned on a dime when it filled that gap at 840 thats what it was...Never fails though when the media has all of Americans with mortgages living in cars within 6 months and 100% bank collapsing, and housing is never going to turn around......its seriously time to buy.
selling one at 1029.00
Just like in 2006 when all thought that housing was on fire and was going to last forever. I am for the first time understanding this Morgan, Buffet, Rockafeller mentality, to bad I don't have a billion $.
tight 2.5 stop... triangle showing on the 1 min. chart.
lowering stop to 1030.50
rofl... you and me both, Joe! You know what i keep thinking? What about all the poor schmuks new to futures trading for the first time! Cant imagine what they must be thinking the way this market has been the last 3 weeks! (if any are left!)
stopped out minus 1.5... now up 2.25 on the session
thats a good idea....