This downmove was expected, but having it occur over the lunch hour was not. EDIT: Measured move target here is 1499. (1515->1504->1510->1499) EDIT: 1499 would also correspond to an interesting psychological level in the DJIA of -200 points. EDIT: Well, 1500 is close enough. Every retrace today has been just about exactly 50%, so if we hold to form we should retrace to 1504.75 or so, and then resume our downward path.
i feel a major crack- o - la of the critical level 0f 94/96 is looming before EOD......if so,it would`nt surprise me to see us at 1440/50 by tomorrow morning........heeeaaavvvvyyyyyy
Fooled me. This one retraced to 61.8% instead (to the tick). Spooz, from your keyboard to God's flat-panel display! EDIT: Next measured move target is 1496.25. (1509.50->1500.00->1505.75->1496.25)
didnt call it out but hope you guys got short on that last pullback... golden rididng her down again... see what happens this time bastards better not ride it up again and get me out at BE... looks like a bottom forming though.. Lots of support here.
i`m actually still holding my 25.75 sell & add on at 13.75 from this am.......setting my traling stops is my weak part of my arsenal & i`m not ashamed to say it.....as it stands it sits above the 60% fib intraday.......& looking for a move to Hades on this one.
I have to agree... Its hard to ride out a longer term position market looks weak though.. I think you got this one
Taking some profits here: sold 700 of my 2000-share position in SDS at 52.99 for a 3.3% profit ($1200). Still holding 1300 shares with unrealized gain of $2200. Not bad for a day's work. Setting a hard stop on the remaining position about 1.5% below current levels, and will trail the stop up if and when the market moves lower.