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GLOBEX 10-20-08


Hope everyone had a great weekend. IM short one from 932.25. Numbers im watching on the downside are 922-23, 916, and 896 area. Since im back at work this week ,i plan to go back to basics and be much more selective on the scalps i take. Good luck to all!
out at 958.50, plus 2.25... up 8.5 now. Two for two. So far so good! taking a nap... see ya round 10:00
trying small short from 56 here in overnight...weekly pivot and high volume...there are gaps in overnight data all the way down at 928........I'm hoping those stay unfilled today but will be watching anyway
will try for 44.75 as a first target but looks like they may want to run this up on me
read on many forums and blogs that 880 is monday target as its forming some triangle. i am currently up 8 pts and i am short 1 es and long 1 ym.
interesting......lots of bullishness out in the news ( Cnbc etc).......so I don't like the higher trade in overnight.....too obvious.......I'd still like to see a rally today but would have prefered lower overnight trading and a gap down in RTH...I don't think we will get 880 today but who really knows....I think some contraction in volatility is due

the dow dragged down the market on Friday so I expect the market to ignore that and show some strength today
if we rally and broke Fridays high then we will break triangle and we might rally from there...

took one off at 49.25....final sits at 44.50...I do have lower targets but no more contracts to get there...I'll hope for a better short from a higher open in RTH if they open it higher and push it UP first....
flat at 51.25....day session could run this hard and quick.....for or against me so best to get out
Ben speak @ 10am est
quote:
Originally posted by Akola

read on many forums and blogs that 880 is monday target as its forming some triangle. i am currently up 8 pts and i am short 1 es and long 1 ym.



The 880# posted on Monday was right on. May have been lower vol caused it to come later than expected. I had 885 area and a prime support @ 874.75 so I was very interested in their projection.

Thanks Akola if you read another projection let us know