es - 9-29-08


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  • BruceM
  • 29-Sep-2008 at 9:50 AM
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I'm begining long campaign down at 1183.25.I may be early and I may even be wrong....but we had the low tick s and high volume thrust.....real key numbers are at the 79 - 84 area....1202 has overnight single and part of fridays key volume zone.....no doubt a hard trade to take..good luck to all today
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  • CharterJoe
  • 29-Sep-2008 at 10:42 AM
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My SPY 120 puts up over 2bucks, fixing to buy some calls in a few min.....I want to see what the IB breakout does.
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  • CharterJoe
  • 29-Sep-2008 at 10:46 AM
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Bought some SPY 118 calls at 4.95 (ES at 1173) and sold those puts from Friday...
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  • pt_emini
  • 29-Sep-2008 at 10:49 AM
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"Normally" when oil drops 6% overnight, the ES finds a bid ... bit of a flight to quality into the 10 year treasury notes...

I suppose the chaos of "the bailout", AAPL -15%, and Wachovia, and Fortis and, and, and ....

...maybe a little inverse H&S low on the 1 minute charts ??

anyways, logic says the ES is poised for a pop when the bailout bill passes the house...
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  • BruceM
  • 29-Sep-2008 at 10:50 AM
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fantastic Joe......this forum seems to be lacking in option information...well done indeed
quote:
Originally posted by CharterJoe

Bought some SPY 118 calls at 4.95 (ES at 1173) and sold those puts from Friday...
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  • Akola
  • 29-Sep-2008 at 10:51 AM
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any one knows when they will announce bailout news?


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  • BruceM
  • 29-Sep-2008 at 10:52 AM
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this is what concerns me though PT...the logic ....seems too logical and obvious.....time will tell of course..I'm hoping I'm on the side of the smart money by buying into the lows today.......tough trade though
quote:
Originally posted by pt_emini


anyways, logic says the ES is poised for a pop when the bailout bill passes the house...
  • 0
  • CharterJoe
  • 29-Sep-2008 at 10:53 AM
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akola,

there were supposed to pass it last Thursday lol
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  • redsixspeed
  • 29-Sep-2008 at 10:54 AM
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I think they have a roll call @ 12:30est then announce but I'am not positive
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  • pt_emini
  • 29-Sep-2008 at 11:00 AM
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Bruce... the only fly in the ointment is this drop in AAPL, otherwise I would suggest the morning weakness is a classic bear trap setup for the reaction to the house vote on the bailout bill. The AAPL trade is causing me to hesitate on the long trade setup this morning.

Akola... house vote should commence anytime now... not sure what the hold up is ??
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  • Akola
  • 29-Sep-2008 at 11:09 AM
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thats y am i on the sideline

market might move 10 to 15 pts in either direction.

i was searching blogs and found this xtrends.blogspot.com site where this guy is predicting 1030 by next week.

thats 150 pts from here..
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  • Margie
  • 29-Sep-2008 at 7:29 PM
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  • Posts: 364
Thanks Charter Joe, I will work with them and ask questions along the way, if you don't mind.
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