Re: [RT] sp 500 cash 1383

["Ira" <mr.ira@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx>]

When it will happen I don't know, but I have a price objective for the down move of 1378.25.  Even if it hits that level it won't void the up move.  Until that move is voided there remains a 60% probability of price reaching 1440.  There is currently downside pressure on this index and the fact that 50% of the stocks in the index are oil related doesn't help just now.  Maybe the announcement by the Saudis that they are going to cut production might help. 

Ira
www.thetradersguide.net

  ----- Original Message ----- 
  From: Zaitzeff@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 
  To: realtraders@xxxxxxxxxxxxxxx 
  Sent: Monday, January 08, 2007 6:28 PM
  Subject: Re: [RT] sp 500 cash 1383



  Thanks for your inputs, Ben. Much appreciated.

      But come on now. 1383 cash intraday with a reversal?  Perhaps, you have the inside on a doomsday report coming out.     I could perhaps see 1397 on the outside, but . . . 
   As one of my first boss' used to say when I came running in with my latest discovery. He would listen patiently and then say, Well, Larry, how much do you want bet on that? 
     I then would take a gulp and go back and re-do my homework. He was usually right and I was not. 
      Take care,  good trading.   Zait.