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GLOBEX 10 -14-08

ill play it with a 3.75 stop
Long 1034.5
dam, now down 1.5 on the session
(GOOD PLAY jOE) im long one from 1035.00, looking to exit around 1040-41
I guess this pops from the gov saying its going to invest 250 billion in the banks. I guess thats good for at least another 50 points, cause buffets 5 billion moved the markets 30 points. So using basic math that would move the ES to 2535 LOL
raising my stop to breakeven..
hung up on the 1 min avg at 1038.00
actually this boring action might be good... my 5 min hasnt even given its buy signal yet, but its very close
I think this pullback will go as high as 1150 before it will resume the downward march. If it will go beyond 1200 that would be another story.
dont think it gets that high, Leo... pretty soon theyll realize the problems in the economy may be contained ,but are still with us.
thats a good idea....