This are Intermediate Term (IT) SHORT trades, given wide stops to accommodate rallies in what is an IT decline from here on, until ??? We'll see. SELL SHORT NQU9 @ market (1455.750 buy stop @ 1497 SELL SHORT ESU9 @ market 919.25 buy stop @ 942 Will move stops and add to existing shorts as market dictates. Will also add to crude short, FAZ long, and initiate QQQQ and SPY shorts
These are our FAZ longs: 06-02-09 10:26 AM Buy FAZ @ market (4.63) 06-05-09 09:53 AM buy FAZ market ((4.31) ----------------------------------------- close FAZ long 4.31 entry @ market (4.89) Hold FAZ long 4.63 position
Markets may bounce here but this should be a shallow pullback in this new leg down. SPX 920/23 should be max up move from here, then decline resumes. If SPX 920/23 is taken out then market will probably test recent highs. Low probability of that happening soon.