GLOBEX 12-04-08

Some thing to ponder, besides the 872.50 21 day moving avg on the daily chart.... 1008.50 top- 739 low was 269.5 points and a 50% retracement is ...(drumroll),... 873.75 Small wonder the 872.50-877 zone is giving at least some short term resistance. Also note that the entire crash from the May top at 1441.00 to the crash low at 739.00 is 702 points. 0.236 retracement comes in at 904.50. REMEMBER THE DAILY PROJECTION OF 904.50?(STILL VALID UNLESS 739 IS TOUCHED AGAIN).

jobless claims #s due in 4 minutes

Got 2 Now Up 4 on the day.

short 2@ 856.00, but have to take my son to his monthly probation meeting ... should be back for the open tho.

numbers out in 2 mins- i am staying flat here

Turk welcome...Im confused by post...are you buying or selling and why?

covering both

out at 853.00, plus 3 twice, up 6 on that trade

ah...I see you sold...had to go back to previous page Turk

quote:

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Originally posted by koolblue

sOMEBODY SURE DIDNT WANT ANY COMPANY O/N THE DOWNSIDE!

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I am new to posting and I wasn't very clear. I had a short stop order at 853.75 with a profit target stop at 851.75. The order was placed if the trend continued out of the flag that formed. That has been my bread and butter trade all of my life. It just as failed me miserably lately.
After I missed the trade at 8:13, I couldn't resist the urge to pass on this on too.

with the last major pre market cycle high of 74.25 to the cycle low of 50.5 don't we get a projection of 89.0 unless 50.5 is taken out?