Tuesday, October 7, 2008

closed ES long at 1022

Bus must be too crowded. .....I think we will make marginal new lows...

22 comments by xTrenders :

johnboy said...

I didnt lik the look f the developing pattern either an closed my long at 1032. Maybe yure rubbing off on me ;-)

EWI is predicting support around 928-942.

tamas said...

Good work Atilla! Take those profits!!!

Really Lost said...

Now I'm hoping we break the lows and get a purge.

Atilla M. Demiray said...

it will likely bounce to 1042 now but it may not, if it does i will enter a small short there

The Pearl said...

You gave it plenty of room and time. Your feel for the market is the best I've ever seen. Thanks for posting.

zigzag said...

Maybe close lower, gap up tomorrow to leave bulls behind ?

Atilla M. Demiray said...

vix will make a lower high, while SPX makes a lower low... a classic

just ppart of the bottoming process for a tradable bounce

I will be all over it

Tony said...

The oversold conditions seem to continue though in the short term indicators.

I am more inclined to believe the 'digesting' scenario than that the bounce completely failed. The panic of the sub 10K yesterday may have triggered liquidations that are being absorbed.

Today's announcement is one of the few good things (if not the only one) that I've heard lately.

Could the bounce have [re]started at the 1016 ES low?

ARAK said...

Atilla,

If that's the case, wouldn't you being going long here? Or around 1016 since that is only 7 point away from yesterday's low?

Greenie said...

I do not know why you got beared up so much.

PCP said...

Atilla,

When you are wrong, usually you are just a little (couple of hours to a day) early.

I am adding to my very small long position here. I hope my first sentence holds true :-)

ARAK said...

Sorry, you said lower low ... so lower than 1009.

Greenie said...

SPX will be at 1150 in 3-4 days.

Really Lost said...

Big bull trap, and then big bear trap. Meanwhile the masters are accumulating for a significant bounce?

Just a guess.

dhw said...

whipsaw city...

ARAK said...

greenie,

are you poking fun or reiterating atilla's call

Atilla M. Demiray said...

ARAK said...

Atilla,

If that's the case, wouldn't you being going long here? Or around 1016 since that is only 7 point away from yesterday's low?

Tuesday, October 7, 2008 2:22:00 PM EDT
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i dont shoot for a small fish

Shawn said...

Yes Atilla. VIX is lower all these time today while stock market tank.

A bullish divergence for stock. I am holding my longs and will add tomorrow.

Please keep your posts coming!

Greenie said...

Poking fun? I am saying what I see here. 1150 is the upper end of hourly Bollinger band, and SPX is on a rocket launch. Trust me - I was with NASA for many years :)

In any case, I have stop below today's lows.

Eurobear said...

recovering I think but stops are out of teh question as its whipsawing all over the place. Was long GS $120 Oct calls. Been selling on strength

Trevor said...

Nov 110 SPY call vol really growing. Might be a sign...

Eurobear said...

bought more GS Calls, I think you got the call right, just not the levels