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Re: [RT] ESZ 15 min

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The reply below was posted on 9/14.  On 9/16 price went to 1244.75.  An exit at 1240 would have been nice.  The first price objective.  Now on 9/20 the other call is coming to pass the index has hit 1210 and the ES hit a low of 1213. 
 
No calls after the fact.  What now folks?  Have a good week, Ira.
----- Original Message -----
From: mr.ira
Sent: Wednesday, September 14, 2005 3:55 PM
Subject: Re: [RT] ESZ 15 min

It hasn't hit the entrance price for that trade.  It is also a retracement on an intra day chart. We are talking about the retracement of on the SPX which closed at 1227, so that would be 12 points.   The internals of this market seem to stronger the price currently indicates.
 
The ES has the first down price target at 1231, price is within a point of that right now,  and the last one at 1211.  That would still leave the index in an up move.  Maximum retracement on the ES, at this time, would be about 1247 with the first target at 1240.
 
Those are the numbers that I am looking at right now.  Ira.
----- Original Message -----
From: Joe Duffy
Sent: Wednesday, September 14, 2005 3:26 PM
Subject: Re: [RT] ESZ 15 min

Ira:
 
Are you suggesting a retracement target of 1239? Thats only 4.5 points off the close? Thx.
 
Higher Oil today, the new issue supply from Google, some indifferent economic numbers, and the tape was trading heavy all day. Still, if it gets through the week without getting hammered, imo its got further new highs above 1255. 
 
The Fed looks ready to raise again in September imo, but then take a wait and see approach. The peripheral numbers in some of the recent economic data have indicated a softer or slowing economy.  If the Fed takes this approach I believe the market will find it encouraging.
  
 

 
----- Original Message -----
From: mr.ira
Sent: Wednesday, September 14, 2005 6:06 PM
Subject: Re: [RT] ESZ 15 min

Today's lows in the EZ Z were an intra day target on the 60 min chart.  There should be support here and a retracement or at least some horizontal price action at this level.  At that point one can see which trade is next, the up move or the down move.  If the EP for the retracement is hit, price could carry to 1239.  One should take note that you are in the up trade until 1185 is taken out.
 
IF the greater pain theory is to work at this expiration then the SPX will go out at 1225,
 
Just some idle thoughts.  Ira.
 
 
 
 
----- Original Message -----
From: ChasW
Sent: Wednesday, September 14, 2005 2:11 PM
Subject: [RT] ESZ 15 min

1.    The SP cash is thumping up against the 62% retrace of the 2000 highs.  some nice targets if it gets thru
MA then bottom of the wedge is support @ 1201-07, else the old Median Line around 1120
 
2.    seem to have expended a good bit of energy opn the 15 min ESZ

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