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Globex 10-16-08


Well gang, we certainly went true to form yesterday,plunging thru 920 and my downside objective at 912. We are definitly in crash mode! On the plus side, closing ticks on the nyse are more indicative of a rally than a crash at -700. Ithink we had a Lowry 90% down day and my price proj. from 1067 at 878.50 can be considered fullfilled by tonites globex low at 880. On the negative side, i have outstanding sownside proj. from the weekly charts around 815 and monthly charts to around 777 not yet achieved. Oil is down again at 72 or so , as investors worry about global recession, and the libor is still around 4.5& indicating the credit freeze continues. Not a rosy scenerioby any stretch. Lets be very careful out there and remember, its a bear market!
out at 913.25, for a quick 2.50.. up 9.5 and watching...
BUYING THE TRIANGLE BREAK!
LONG ONE AT 916.25, 3 POINT STOP
5 MIN. BOLL. AVG . IS 913.75. Idont want to see it broken or i just bought a head fake!
@#% , im gone ...loss of 3 ..now up only 6.5
bingo! theres the proj. ...907!
buying one for a quick bounce
long one at 904.50(lower 5 min. boll band ) 2 point stop.. looking for 3 handles
stopped out ... up 4.5 now
selling 2 @ 908or higher
switching to es thread