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Globex 10-27-08


Here comes another fun week! And it will likely stay that way untill the vix begins trending down . Closing ticks ,while very neg. at over 400 were not at the level of danger(over800). New highs remain under 15, and new lows continue to expand. When the 'bottom' is in ,you will see this pattern reverse. Daily cycles call for a bottom wed to thurs., but keep in mind the fed meets and will likely lower rates again by 2:15 thurs. Also be aware of a tendancy of market strength from the last day of the month into the first 3-4 days of the new month. That would line up with my cycles nicely which have a top around the 4th or 5th and decline into the 45 day cycle mid Nov.(remember that one?). Time will tell... good trading all!
Thanks for the explanation, cya
Just got back, hope somebody was able to take advantage of the 883 proj. last night and went short! Wish i wouldm have been home. I see the sq of 9 at 886 turned it .
buying here.
long 2 @ 835.00, 4 point stop
covering at 838.00
out at 837.25...when it 838.00 by one tick i got nervous and pulled the trigger. ..plus 2.25 on 2 .. now up 4.75 on the day... watching{looking to buy again)
crazy stop runs here!
6:58 cit
ill buy one at 836.75
upside proj. seem to be 852-856 area....buying one more at 854.25
TRADERS LOUNGE... ES 10-27-08!