Cover on a strong move above SPX 1243 MOC. <u>The Holy Grail Plan</u> Staying short S&P's till October 7th, from September 12th. Then to cash for a few days. Sell into whatever rally occurs. Short till October 24th, 2005. Low projection extreme SPX 1090 The last portion of this correction should begin today, Monday the 3rd of October, 2005. Using: Emini Dec '05 to scalp SPY Nov. '05 puts for position
I thought I'd add that I've had a call to short/cover longs on TYC since the 19th. $21 is the named level; date uncertain for the low will update WBB
From October 3 until October 24th you are expecting the SPX to drop to 1090 (-11%) in 3 weeks??? Also if it is true that you shorted right on the absolute high on 9/12 at 1240, how come you did not cover at 1205 when we bounced off support? Phil
And so, it begins. The twaddling at the minor high is over - such a weak run! The strongest indexes are the NYSE and The AMEX. The weakest are the RUT and the OEX- the NDX is going to fall hard, imvhmo. The drop into the Oct 7th low (if it is a low, better hope that it is a low- or it could cause some very ugly stains on the sidewalk) will be a suckers buy spot. Just step aside or stay short - depending on your trader flavor, trans. costs and all that stuff. The October 24th low is a much safer place to go long - - just about anything.
signal was on the 12th and entry was a bit lower the mini at the close. puts were put on on Tuesday morning- still holding them scalped several times, both long and short with the mini essenpeez have been correcting since January - spandin tri form one way to see 1090 is to connect the jan '05 low to the apr '05 low -- thats not the way I use but that can help you see what's coming fwiw- I've been a bull for about 3 years - still am a bull this is just a much needed 'inventory liquidation' sale
Spot crude oil to top at 94.60 - Short all SUV's sell the $US short term; buy it intermediate and long term. The Euro is toast for awhile. Reality does that. Gold looks like an oil tracking stock. stay long- if long term investor in metals <b>Trivia: What energy index is up the most since the 2002 lows?</b>
The coming down move may rival the fear of 1987... may, not for sure. If 1091 spx is broken, before a bounce in mid-month, that would raise grave concerns about the October 24th low, and where it could stop. SPX 1036 would be the next support level. If any luck is in play after the bounce, we might see a failed 5th at that month-end (24th) time locus.