Target: the moon Stop loss: 1163 I don't believe in upside targets and will stay long untill the underlying price drivers change. I'm expecting big bear market rally here per Our system. Surf
The S&P downgrade released at Friday after 8pm est was actually beneficial for the LONGS. It triggered catalysts into action ECB, G20, Fed, Treasury, etc. while the sheep cried Black Monday. This is a Perfect Storm to the UPSIDE, not downside. Don't forget the 400 pt swing up on the SPY on Friday on rumors of ECB intervention buying Italy's debt. If they follow through on the 'massive scale' with Italian and Spainish bonds, the shorts will get squeezed hard, Friday was only a small taste of the potential squeeze. The only reason SPY didn't gap fill and squeeze Friday was the S&P downgrade leak. The news is out, the overhang is over (short term). It may be cosmetic but the unified stance of the international central banks should set up a recovery and squeeze. SPY 122 is the trigger for a squeeze to 124-125 levels. Give it til Wednesday... long n strong---
ES 1170 rudimentary support and 1150 underneath there. Slowly climbing back and Nikkei has climed off the 9150s lows. The REAL ASS KICKER (for shorts) will be when ECB kicks in their QE1 tommorrow--- massive buying of Italian and Spanish debt. Mon - QE1 for Europe aka left kick = hospital Tues - QE3 for US (mumbled by Benny blanco) = aka Righi kick = cemetary Bears should take the $$$ and run before US equities market open... almost forgot to add one more participant... the PPT... but this time, G7 also added to the PPT... see the comments tonight
Initial position closed with -10 loss. Nothing has changed with the price driver analysis therefore going to try fine tune the entry here 15 contracts long @ 1169.25 Will enter next 15 at apropos time Surf
BS. I was online at 3am ET when you posted: 1. You were stopped for 1163 2. You went long at 1173 *30 contracts, with a stop loss at 1155 And then, within 20 minutes, when I refreshed, your post was gone. Explain that one ....I kept waiting for you to close at 1185 for a flat combined total, but you let it drift all the way into loss....