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ES- 09-26-08


Ugly open coming.I still believe a intermediate term bottom is forming the last several days. And i would still be very careful trading position trades or puts here.Remember there is strong support 1172-77.
selling 1207.00
short at 1207.00.. 4 point stop (large for me, cause next stop potentially 50% ib ext at 1210.25)
NOTE avg supported at 1205.00.. avg plus 6 not 5, dam wave 3! ib 50% just hit
sigh... stopped ... minus 4 .. now up only 2 sigh.. that bowl was soooo obvious Margie. why oh why didnt we grab it !! sigh
short at 1210.50
aiming for 1206
look at the bowl on the 5 min!
covered 1209.25

you know that song, chorus goes "take the money and run"?
Margie , if this continues till near the close im jumping out of my call at the 1217 area or maybe at the open mon on the expected spike up on the sun nite announcement of a bailout deal. thats probably what ill do...your choice.
Thanks Kool, you are so good with the advice.
WAY TO GO pOP, IF U CAN SCALP A SHORT O/N THIS RELENTLOUS RIDE UP UR DFINITLY GETTING THE HANG OF IT!
Wow what an end to the day!

Joe, you are welcome & thank you for sharing your knowledge here.
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