SPOOS Target Prices daily/weekly/monthly

Discussion in 'Journals' started by Lojanica, Feb 23, 2010.

  1. My journal and contribution. Expected target high probabilty High/Low points for the SPOOS called in advance
  2. SPOOS Targets

    Tommorrow 2/24/2010
    High 1099.50
    Low 1084
    Close 1090

    Rest of week 2/24 - 2/26/2010
    High 1099.5
    Low 1074
    Close 1088

    Next week 3/1 -3/5/2010
    Low 1030
    Close 1049
  3. Not even close. The overnight high was 1099.50. After the open it was clear we were gonna break up and retrace but I have to be true to the calls.

    So we retraced nearly back to 50d ma on the daily. With the CCI Consumer Confidence Index so poor regardless of what the FED does I still maintain we go lower but the question is between now and 1030 do we go up first to shake out some shorts and gather more longs or we do we plunge from this level.
  4. Established a short POSITION at the market on today's close.

    Stop 1118. Target 1030.
  5. Take profits on 1/2 the position on the openat 17 points net profit. Will reestablish that part of the position as the gap attempts to fill although we are not going above 1195.
  6. Move stop to 1195 for the other half remaining and DO NOT restablish the other short yet.
  7. Take profits on the other half now at 1089.

    This turned into a swing trade. I will wait to reestablish shorts agian likely at a higher price. Will make note here.

  8. So even though I was off on my predicted values yesterday those same values came into play on were used to identify probable ares of price action.

    The low today was 1084.50 (so far for the morning session)

    Yesterday and overnight 1099.5 was an important pivot. 1088 is the area of greatest time at price or volume. I am gonna take off since I'm flat and look at the market when lunch is finishing to see strategically what makes sense.
  9. FLAT

    Summary of the swing trade. Sold close yesterday at 1003.5

    Scaled out 1/2 each at 1087 and 1089 for an average of 15.5 pts.

    Issues: End of month money flows. Gap still filling from this morning's large gap down. I did not go long at the bottom. The market is at a crossroads between medium term bear and bull as a lower low has not been made on the dip from Jan 19th. Still some active dip buyers in force hence the decision to scale out at the bottom today which turned out to be a good decision.

    Plan watch market overnight. Depending on market action I will determine best place to reload shorts but I do not want to squeezed higher and hence the observation phase.

    Rest of week 2/24 - 2/26/2010
    High 1099.5
    Low 1074
    Close 1088

    These were my predictions at the beginning of the week but I have say I think we close higher than 1088 on the week probably 1099.5.

    Tomorrow's predicted 2/26/2010 HLC

    1103.5 high
    1095 low
    1099.5 close
    #10     Feb 25, 2010