1100 SPX major psychological support point, and a key support level. This is horrible. We should feel lucky getting apathy in the next three months, but I suspect we go at least 100 lower from here. DOW 10K imminent in the next few days/weeks, and 9500 not out of question. nitro
If you took these trades, and are ready to stop out at 100, wait until after 10:30 on Monday. Then exit is automatic if IBM < 100 at that time. But don't panic on the open. Alternatively, you can exit on open if IBM < 100, but I would then but it back if IBM > 100 after 10:30 AM CT. If IBM then trades below 100 after that, best to throw in towel and move on [personally I would only exit IBM on the feel of the IBM action, and red SIFs at this point, but that gets too complicated for most and can create whipsaw. I would also buy it on any rally in SIFs for a trade, but we are investing in IBM, not trading it. The more decisions you make, the more expert you have to be. That's why trading is far more difficult than investing]. nitro
IBM held 100, and even more encouraging, it held ground when both DOW and SPX made new lows. Now what we want to see is lifting of offers like pacman [WOCKA WOCKA WOCKA WOCKA] on SIFs higher. nitro
Every time I write this, I expect it comes true maybe in weeks. It is true the next day! Insane. VIX at 54.00 :eek: :eek: :eek: nitro
If you bailed on this downdraft and booked loses, that was disciplined. Now you can't wallow in pity. If IBM trades above 100, buy it again, especially if it is after 10:30 CT. I bailed and that is my plan. Use small shares. nitro
The last time I was certain that overall markets had bottomed, was 785 SPX several years ago. 982 SPX is some support. I will be buying there. nitro