Discussion in 'Trading' started by bluud, Oct 22, 2007.
Anyone buying this dip?
Markets are already heading back up
I just bought some Mini s&p500 at around 1498. An intraday trade.
I am notorious dip buyers in aftermarket and premarket. However, I do not see positive signs until yet. I am waiting, shorting looks to me dangerous as well. I expect that market will slide as minimum in first hours of trading. I will start buing just if there will be clear signs of rebound /I know that part of profit will leave on table/.
Europe down only slightly. Oil dropping. USD rising. Futures rising.
Maybe a little lower on opening followed by a small rally. Or quiet opening, upward drift.
Buying this dip for long-term investments? Yes, I'm grabbing a few stocks that I had eyed for a while. But I'm cautious as everyone. I don't like to accumulate already with a market down just few percentage points.
Every past indication would lead us to believe that buying this dip is a smart move.
Already had a buy signal at 787.10 on the ER2 last night at 22:18 cst..still holding some runners..nice move so far.
sold out of some inverse funds this morning.
Added a little bit to the long side with QLD and DDM
Sold some TWM and SMN...
Out at 797.10 for 10.0 points..flat and time for scalping the rest of the day.
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