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ES 12-8-08


GM Traders

Daily PP: 856.25
Weekly PP: 861
Monthly PP: 881
POC: 829.75

R1: 895.75
R2: 918.75

60m: 933, 980.50
15m: 910, 914.50, 922
thank you VO!
might be a good time to look at that update i posted long ago (oct) where i discuss the normal 3 rallies in a bear market ... and made the case why we should see at least one 30% rally( that would be around 960-970) completely normal behavior.. and remember the cycles.. around Christmas the 120 day and 45 day are going to begin exerting influence !
not sure who asked but here is a picture showing abc off the bottom and targets

Click image for original size
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Thanks P.T. you likewise.. i think i got a little lucky today tho
my monies on the first or 3rd number VO!
EVENTUALLY ALL OF COURSE ,BUT A GOOD RETEST WILL COME SOME TIME SOON
I have 100% @ 971 ....it just looks so far up but time will tell thank you again
SURE ACTS LIKE IT WANTS 922.50.. BUT IM CHILLIN TILL TOMORROW
ive got an order in on some puts...SSO Dec 28
a gap up tomorrow should be a great short opportunity
How true Kool..the way I look at is if the market only trends 30 % of the time ( and that's probably generous) then we need to make most of our money on counter trend trades unless you are the type who can take many losses and win on the trending 30 % of the time...I can't
quote:
Originally posted by koolblue

you know what i really love? A 300 point up day in the dow and most of us made most of our money SHORTING the market. FRIDAY TOO you know your doing something right when you can do that! Congrats to all.. c ya tomorrow!