nikoschopen
2,824 posts
msg #53739
- Ignore nikoschopen
modified |
8/1/2007 9:47:46 AM
Alright, you dead cat lovers, here's my setup for today.
Once the S&P retraces back down to yesterday's low (oops, make that this morning's low for the S&P futures), and possibly breaking under for a brief moment, get ready to "load the boat" once it gets off the ground or climbs back above that low. ALWAYS ALWAYS use stops. That's my useless 2-cents for now.
Thanks, msummer!
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nikoschopen
2,824 posts
msg #53740
- Ignore nikoschopen |
8/1/2007 10:00:59 AM
msummer,
If we manage to get a relief rally, if at all, which I believe we will, it might be quite significant.
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msummer2007
129 posts
msg #53741
- Ignore msummer2007 |
8/1/2007 10:15:36 AM
The sentiment in the market now is totally negative. Even if your lucky enough to bottom a stock, people are trading out just as quickly on short moves. Hence more downward pressure. Difficult to navigate these waters.
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nikoschopen
2,824 posts
msg #53742
- Ignore nikoschopen |
8/1/2007 10:22:52 AM
My feeling is that the market makers crashed the party early to take out the weak longs. Now that they have achieved their goal, the market can only go up IMHO. Moreover, the S&P is at its 200-day moving average, which should not be taken lightly.
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nikoschopen
2,824 posts
msg #53743
- Ignore nikoschopen |
8/1/2007 11:08:15 AM
The S&P futures is currently rebounding after hitting the bottom. Will it go up from here? I have my fingers crossed, lol.
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nikoschopen
2,824 posts
msg #53745
- Ignore nikoschopen |
8/1/2007 11:58:51 AM
Here's a double-shot to my insanity, while you get two bangs for the buck. Would you think I'm more than crazy if I said we will retest yesterday's high? Well, me too. LOL
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nikoschopen
2,824 posts
msg #53746
- Ignore nikoschopen |
8/1/2007 12:14:51 PM
Take note of today's price action to the one two days ago. It looks almost identical! Shall we go ga-ga?
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nikoschopen
2,824 posts
msg #53749
- Ignore nikoschopen |
8/1/2007 2:48:40 PM
Man, what a nauseating day! It looks like the futures are about to venture into new bear country nonetheless. From now on, don't come near me when I give out an idiotic call.
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msummer2007
129 posts
msg #53751
- Ignore msummer2007 |
8/1/2007 4:12:28 PM
I hope this rally continues tomorrow, might be a bit of short covering along with just plain bottom fishing. Good Luck
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luc1grunt
622 posts
msg #53752
- Ignore luc1grunt |
8/1/2007 4:23:00 PM
Nice recovery at the close though NIKO....I sat on my hands ALL DAMN DAY!!!!!
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