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Globex 11-13-08

Hey gang! Bingo on my market update posted last weekend for much lower prices this week! We are now in a critical stage for the markets.From the long term weekly and monthly charts there are proj down to 777 or so but i was hoping they wouldnt be achieved untill the next expected 'significant ' low when both the 45 day cycle(the one doing this damage) AND the even more powerful 120 day low are scheduled to bottom! Now , im not so sure! Our only hope is that if you remember back in sept ,the last time the 45 day bottomed. i was off by 2 days. I have fri. as the 'scheduled' low so it would actually be sweet if im off by 2 days again! LOL.. im going to take a look at the longer term charts again tonite to see what there saying now. Any way , for short term purposes , im long one from 842.50 and covering here just under the 1 min proj of 845.25
well, so far anyway the averages are holding it up! We'll see....
what bothers me is that the daily is clearly showing a descending triangle and if it plays out then that measures to around 600 and thats another 30% lower!
Well, anything can happen, thats for sure, but somehow im hoping the 120 (stll pointing up but flattening out ) and 45 day(botomming in the next 2-3 days?) will provide at least some support. Or at least after 836 or 812.
849 is the globex 50% retracement with 850.75 @ 61.8% and 853 @ 78.6%
Yeah, and i see the 5 min proj from 844.25 to 847.00 now gives about 851.50 (minimum), so im either going to get long soon for a quick scalp or raise my sell price (or both!)
ill buy 846.00 in case she wants to fill that 1 min gap at 845.75 and sell order cancelled for now... got to leave for a few... back in 20 min
actions not quite the same in globex is it
Boring, but it moves so slow you get good fills and projections . Then ,usually by 3:00am to 5:00am you have all the Germans And Brits playing games and it starts jumping pretty good.
Dam, i was going to call it a day, watch a little tube and go to bed early but i forgot i had an order in at 846.00! And it just got hit! LOL
they left a gap @ 45
Whwew, bingo! there it is! 2.25 on each! now up 7.5 on the day and calling it quits! Talk to everyone tomorrow!