spy's up over 1% AH, sling shot tail formation today

Discussion in 'Trading' started by rc5781, Sep 5, 2008.

  1. rc5781


    monday should be interesting
  2. Not for me. I shorted 3 ES into close at 1241... from the looks of it, it'll open at 1255-1257.

    I'm gonna need plenty of vaseline on Monday. FNM better drop to zero.
  3. Consider yourself lucky... I shorted 20 at the close.

    What juicy gap to short on monday. Too bad I'll be the one getting gapped on.
  4. spy at 126.13 i think you should go buy some more vaseline
  5. SPY 126.13 is approx 1257 on the ES...

    My fannie mae shorts are making me money right now which will lessen the blow on Monday.
  6. Euro rallies and the Crude will rally HARD!!!

    Buy the energy complex ( except refiners ).
  7. I don't hold overnight (yet), but how do you guys feel about the gummit making these types of announcements after hours?

    I guess its a godsend for some but not so much for others..
  8. if ike hits gulf refiners will rally as well
  9. Yes, but it's far too early to bet on Hurricane Ike entering the Gulf right now.

    I believe a much more substantive catalyst for the energy sector would be the Euro rallying once again after this sharp USD rally of the last several weeks.
  10. I would recommend never holding daytrade size positions overnight in these markets. I swing trade 5 cars and day trade 10-20.

    I made this move out of greed. Figured we're going through the lows soon and if we gapped down on Monday so many longs would be trapped that the selloff could be violent.

    I fully expected the rally today after the jobs numbers with a fake tail that would trap even more dip buyers.

    When holding overnight there is always that x factor.

    Nothing has changed in the medium term and fell good about a break of 10K in the dow over the next 6 months.

    But there will be some violent bear market rallies to trap even more low iq money managers.
    #10     Sep 5, 2008