Howdee, I left my computer for about an hour. . .still short and have been for more than a month. Couldn't add more NQ, since we didn't get up to any extreme levels. But gained back equity lost during the pullback. THIS MARKET IS UGLY. I think even the day-traders got faked out today, no? Well with the Vix up again I think we will see capitulation if not today, sometime this week. I mean visibility given by banks and brokers should be enough to put in a short-term bottom. Short-term that is - if most of their BS at the expense of taxpayers is moving behind us and that is a BIG IF. Anyway let's hope the cat is let out of the bag and this market can move forward with a new 'confirmed' rally.pS Meanwhile, what do you think Joe. . .a close below 1240 so soon would mean a new leg down, right?gA OUCH! Ultimate target: 1215 Sad times for our country as banks continueg to topple - first this 12:00 [NCC] National City says no unusual depositor or creditor activity. then this 2:01 [NCC] National City has over $12 bln excess short-term liquidity. and lastly (you know) this BULLETIN >> NATIONAL CITY HALTED; SHARES DOWN 27%. and now this 12:07 [WM] Washington Mutual shares fall 27%, to $3.53 <b>They oughta lock up all the politicians!</b>
We are located at TRADINGROOMS.COM Under Trade Pilot Pro. Pm me for a pass and I will e-mail it to you
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This is what a close under 1240 would look like, this is why I was saying we must close over to avoid further downside damage. News coming out so we shal see what brings today levels where resepcted last night
Wow! Talk about a bounce. I am being patient and looking for a "possible" near-term top. My plan is to STO NQ & ES. Joe's thread has been beneficial thus far, but I am still a newbie when it comes to analyzing intraday charts. So help! I figure after a breakout at 1237.5 a move to the "ultimate" target above 1253 would constitute a good entry (overhead resistance). Am I wrong in this analysis? If we make it there I will enter short ES and extrapolating to the NQ chart, I am looking to enter at 1840. pay$ Edit: If the ES can't break through 1237.5, we have a moot point.
tradingrooms.com room is...pilotpro http://www.tradingrooms.com/ You should contact joe baker for a password,send him an email or private message. Lloyd
Room is....trade pilot pro Sorry about the missed word in the earlier post,brain ahead of fingers lol. Lloyd