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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!
MY upside target was 927.75, still waiting for down side target... looking like 922 or so
The reason i jumped in a little early (before ,say 927.50) was the boll. upper band on the 30 min was 926.00
922.25... but ill be out early ,as usual!
Originally posted by koolblue

short 2 @ 926.50, going for 2-3 handles

Hey Kool,

Can you tell me how and why you placed your order 926.50? I was looking for the same area, took the doji on the 1 min as a sign of weakness, but my fill was 925.75 3 ticks worse than yours.
wow just blew my stop @ 930.75
mini peak due here
Sq 9 @ 931. Also from two sources I have VAL @ 928.25 or 933.5.
morning yesterday the volume came in heavy at this 930 number at 3:50et
covering , going to try for a better entry
got out too early @ 926.5

switching to es thread