SPY by Joab

Discussion in 'Stocks' started by Joab, Mar 9, 2007.

  1. Joab


    I've been patiently waiting for this retracement to get short again and then retest the 03 05 lows.

    We are currently at 140.74 (.382) and I may nibble a little here.

    Ideally, I would love to sell into 141.80 area Intraday today. .500 retracement.

  2. Joab


    Entered short 141.25
  3. Joab



    I didn't expect to get a $1.00 cushion in 30 mins but I will take it.

    Stop now to entry and target is 138.00

    retest of swing lows :)
  4. Nice trade. Promising downside potential for indexes today. Are you covering by close, or will you let it ride through Monday?
  5. Joab


    thanks, Cal

    This is a Swing trade, so I'm holding to target.

    I'm not counting my chickens yet, this market has sold off strong then grinded it's way back.

    I'm a little concerned that we didn't test the .50 retracement or the 20 day ema on the SPY's though :(

    However probabilities are in my favor now and the cushion helps :)
  6. If I'm not mistaken, you were the one that called the top on ICE. That was a thing of beauty!
  7. Joab


    Not real happy with the close today so I'm keeping my stop at entry for a wash if necessary. :cool:
  8. Joab


    I'm probably going to regret this but I've decided to take half profits +.90

    I just don't like the fact that we didn't retrace as far as I think we could have for another leg down.

    Stop remains entry on remaining shares.
  9. Joab


    Well I guess I'm not as stupid as "I" think I am .... lol

    Watch the 141.80 area Intraday tomorrow.

    We "may" get another crack at this !

    I will post asap after an entry.
  10. S2007S


    TXN down after hours, may keep the techs down tomorrow.

    I went short EWZ today looking to cover below 44.
    #10     Mar 12, 2007