Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time
"When a given situation is unraveling all around you, I’ve been taught to to take a step back and look at all the facts. The 10 day moving total of new highs to new lows is over -5000 and the 10 day moving total of advances to declines is -10000. Every time these levels are reached the market reverses to the upside. There are 2 ways to play the current crisis and one is to buy a break of today’s low in the S & P. The other way is to wait for an upside breakout. Tomorrow that would be going long above 1217. Use a stop in any case but remember that a wider stop is needed with this volatility."
I actually think today will be a frustrating one. Before anything substantive happens I think the Mr Market will be stop hunting below 1170 then above 1188. Not sure which comes first though!
HiI have been a very regular reader of your posts and frequently follow your forecasts. Just a suggestion, if you could make a yahoo group and post all the entries there both short and long, intraday, daily and weekly basis.It certainly is very exciting to trade with an expert. Gives confidence to pull the trigger. Hope to hear on this. Take care, MubashirPS: With Yahoo Group, we would instanly know when your message appears.
I was wrong about stop-hunting. This break down & slice through overnight low (having already exceeded overnight high) is a very bearish development. Looking for for a test of 1150 level. If that breaks then it's a quick move down to 1135.
just got some ES long at 1166
carloex / vxo plus vix hit 6.93 this morning . not an extreme yet very close to historical bottoms a break below 6.00 followed by a break back above would be the buy signal . there have been a few times in the past 14 yrs where this indicator has seen moves near 5.00 how ever those extremes have been right at major bottoms . comparing the spx to this same model leaves the door open for the oex to the lower level . today there is some buying going on which is a sign the exhaustion is ending or ended . and today is the end to the steve puetz crash window so historically speaking since major crashes have been into this window we have to begin to have a bullish bias . the 10 trin though never showed an oversold reading . joe
closed the long NQZ8 from 1665 before the open at a small loss @1660. last night was at 1671 a small gain but was asleep at the time. either was market proved me wrong and now looking to go long again if i see YMZ8 10500 or lower, VIX above 40 is the trigger.just a update in case someone wonders what happened to yhat open position.Rob
oex / vxo plus vix at 6.32 lowest price in last 14 yrs is 4.12give the latest prices moves as a guide im looking for the dow spx and oex to bottom at least temporarily in the area of spx 1126 oex 516 dow 10328 with timing calling for a low into sept 16th 19th , the puetz crash theory ending today , the market showing some signs of oversold yet 10 day trin failing and options expiration a couple days away . ill give the benifit of doubt to this indicator for now it just hit 6.19 1 to 2 points left
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