ES- 09-26-08


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  • koolblue
  • 26-Sep-2008 at 9:29 AM
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Ugly open coming.I still believe a intermediate term bottom is forming the last several days. And i would still be very careful trading position trades or puts here.Remember there is strong support 1172-77.
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  • Margie
  • 26-Sep-2008 at 12:30 PM
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That's what I was thinking!
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  • koolblue
  • 26-Sep-2008 at 12:32 PM
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Iguess ill buy the next push back toward 1193-4, but the risk is a decline more toward 1188 or so since 15 %r is only aruond 50. 5 min. very oversold already.
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  • koolblue
  • 26-Sep-2008 at 12:35 PM
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its also possible it has already hit since this 15 min. bar should contain the low , or begin a move up.
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  • koolblue
  • 26-Sep-2008 at 12:41 PM
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see how on that little up rush it went to avg. plus3? Normal would be 2.5 . i know thats not a big deal but ive noticed that tendency the last 2 days ie: up 6 or 12 insted of 5 or 10. AVG now at 1196.75 so im looking for 1193.75. im buying 1194.00 for that reason(i hope)
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  • koolblue
  • 26-Sep-2008 at 12:44 PM
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kinda looks like the avg might be all we get , but with 5 min %r at 50 its sure got downside if it wants it!
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  • koolblue
  • 26-Sep-2008 at 12:47 PM
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With larger time frames,ie: 15 min. charts i never add one bar . That would seem to indicate the decline might have finished. leaving my order where it is though. dont want to get too crazy today.(like i tend to usually!)rofl Ps; 5 min getting overso;d already so some kind of pull back is coming soon!
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  • BruceM
  • 26-Sep-2008 at 12:48 PM
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I think it's very odd that they left a gap not only at the close of yesterdays RTH but also at the 1215 number in the overnight.......Dow is trying to keep this up right now....before the Dow was down only 31 points while the Es was down 12,,,,,,I wish I could find a reason to get long for those 1212-1215 numbers....but can't......yet....!!
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  • koolblue
  • 26-Sep-2008 at 12:53 PM
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Yeah Bruce ive noticed that too. But i attribute that to the high amt. of financials in the dow as opposed to the s&p or naz. THEY REALLY REALLY BELIEVE A DEAL IS COMING. (aND LETS FACE IT THEY HAVE TOO OR THEIR DEAD MEAT!)
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  • koolblue
  • 26-Sep-2008 at 12:57 PM
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Dam,MARGIE, this is great for our calls but lousy for our trading!lol . If i didnt go to lunch i wouda caught this . Grrrr
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  • koolblue
  • 26-Sep-2008 at 1:03 PM
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you called this beautifully ,margie ...Congrats.. hope you werent as consevative as me and at least got a piece of it!
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  • popstocks
  • 26-Sep-2008 at 3:47 PM
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Wow what an end to the day!

Joe, you are welcome & thank you for sharing your knowledge here.
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