ES 12-26-08

Good morning all! just sold 2@ the 15 min deadly projection of 868.50; Lets keep in mind however that there is an outstanding hourly projection of 871.25 yet to be fullfilled.

stopped at breakeven ,865.50,, up 5.5 on the day... going out for some lunch!

Keep the bad new coming but watch the price like a hawk.
If today closes above Mondays close - more so if it closes above Mondays open - then we
might be looking at an up week, next week.
If not, the odds favor a dip lower next week.
JMO - not trading advice, just holding seventeen against a face card!

quote:

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Originally posted by Bruce Johnson

Since Christmas was a disaster for retailers, I expected a down day

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865 is the close on the 24th.

added @ 63 avg 64.75

they left a gap at 66.25 which ill peel there

cash crude has recovered almost all of its drop today. futs +$2

reason for 63 as add level

2 off 66.75

man i havent had this much excitement in ages!!!

almost as much fun as one of my typical new years eve's

Here is something to look at...

Using Kool's cycle method plus a fib fan+retracement
we get a possible price lineup coming next week. This indicates that there could be a possible big move ie straddle might be a good idea to look into... But Kools cycle is showing a mini'low' so maybe this move would be biased to the upside and there is also an abc pattern before this still not negated...
This is something I just came across, throw some ideas out there what you think about it?