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Old Jan 1st, 2009, 10:30 AM   #1
Jahajee
 
 
Join Date: May 2006
Posts: 1,234
Looking at the charts and trying to determine possible path of ES over 2009.

I think the high may be between 1100 to 1150

Low: 550 to 600

Close: 1050 to 1100


High will be nearer the end of year
Low will be nearer start of year
 
Old Jan 2nd, 2009, 07:13 AM   #2
riskaddict
 
 
Join Date: Oct 2006
Location: East Coast
Posts: 2,028
should be an interesting morning. I'll be selling between 906 and 908 stop at 911.50 before the big stops get triggered at 915. My theory is it should fill back in at least to 875 st. But since i would be considered at failure to break back into the up channel could be a lot more violent!
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Old Jan 2nd, 2009, 07:40 AM   #3
skyriderfox
 
 
Join Date: Jun 2006
Posts: 60
If 919-920 is broken, look out above.
 
Old Jan 2nd, 2009, 08:51 AM   #4
Lawrence Chan
 
 
Join Date: Sep 2001
Location: Toronto, Canada
Posts: 5,728
If we are going to get a sell off, it will be event triggered.

Perfect timing would be test of yearly low or new low around Inauguration.

Not bearish, just a caution to the bulls.

Edit: That means, no matter how high ES reached today or Monday, even > 945, does not matter because a shock can easily take ES back down to 850 area in no time.

Edit again: If there exists PPT, which is now switching hands, what would you prefer if you were them? A lower starting point = easier to claim credit for performance
 
Old Jan 2nd, 2009, 09:13 AM   #5
Lawrence Chan
 
 
Join Date: Sep 2001
Location: Toronto, Canada
Posts: 5,728
Quote:
Quote from freehouse:

LC,

Good call. They kept the S&P 500 above 900 before the market closed.

http://www.cmegroup.com/trading/equi...ing-price.html
Thanks ... lately such things happened too many times at quarter ends
 
Old Jan 2nd, 2009, 09:14 AM   #6
Lawrence Chan
 
 
Join Date: Sep 2001
Location: Toronto, Canada
Posts: 5,728
Another odd day ... 4:00 pm close at 900 has a small gap up, and 4:15 pm close has a large one.
 
 
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