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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!
buying one at 869.00, 2 point stop
looking for 876-77 area, then 883. WILL COVER MUCH SOONER, AS ALWAYS!
Ill probably bail by the expected mini high by 18:32-33
ill cover at 871.25
The resistance short term at 873 is due to the 89period exp avg on the one min chart and the 5 min (54 exp. )avg. I would expect it to give way in time however
out at 871.50,plus 2.5 handles, and 2.5 on the day.
cycle peak hit at 18:34 one min. late(so sue me!)
nice trade Kool
long one at 870.75, didnt expect it that quick! the buy was due to the 5 min boll at that level (now at 869.75). holding with a 2.5 stop for break even in case of another stop run!
TRADERS LOUNGE... ES 10-27-08!
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