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Re: [RT] SP500 - pull back times?

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Hello Ira
 
My weekly  long term trading  is suggesting that the max upside potential for this move is 20-30 sp points
my daily work suggests  that we should make a higher high Monday
my volume suggests one more higher close
so
I am already moving all my stop loss on all stocks  very tight  , and if we make my higher high Monday then will move them up intra day,
as for shorting
I do not like to anticipate
I wait for the actual sell
I was bold enough to only place  buying  a put   on  sp500
long  1230p sep
if we make it to 1230  I will get filled ,
have a nice trading week
Ben
----- Original Message -----
From: mr.ira
Sent: Saturday, June 18, 2005 11:34 AM
Subject: Re: [RT] SP500 - pull back times?

It is funny how several different traders can look at the same chart and come up with different answers.  This has to do with the index only and refers to the daily chart.  Different numbers for different timeframes.
 
The index is right now 42 bars into a 62 bar cycle so downside pressure from time should enter the equation.  I have resistance at 1221 which should impede upside momentum.  Other upside pressure is over extended and should add to the downside pressure from time. 
 
The ultimate target for this move up is 1275 with interum price objectives of 1221, 1235,1241, and 1251.  Each of these levels should first act as resistance and then if penetrated then act as support.  1135 would have to be hit in order to void these numbers and this move up.  This does allow for an 80 point retracement at this time and one would still be within this up move.
 
Have a good week end.  Ira.
 
 
 
----- Original Message -----
From: EAdamy
Sent: Saturday, June 18, 2005 8:00 AM
Subject: Re: [RT] SP500 - pull back times?

One other thing ... short which is setting up looks like a correction trade. I think SP 500 will move higher now that it has moved back above the intermediate term trendline (gray). Reasonable target would be confluence of the 68% retracement to ATH and the upper blue trendline at 1253+-.
 
Earl
----- Original Message -----
From: EAdamy
Sent: Saturday, June 18, 2005 7:13 AM
Subject: Re: [RT] SP500 - pull back times?

My general view has been that the fundamentals and risks do not merit heavy long positions, however I did put on my first light long position at 1160 although I have not taken the entire ride. See my earlier posts: 5/15, 5/17, 5/23, 5/26.
 
Earl
----- Original Message -----
Sent: Friday, June 17, 2005 7:23 PM
Subject: [RT] SP500 - pull back times?

Jusr a question..... If you folks are so sure that you are pyramiding
shorts, are you also paricioating in the upswimg as it has been occurring.

Sallie

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