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An Attempt
November 13th, 2008 at 2:11pm · 4 Comments
Stocks are attempting to make a low here. The eMini took out the October lows and has now rallied over 40 handles from that low. The Tick Cycle-Trap on the 60 minute chart makes the bullish case. I think we’re at a low risk/high reward spot for traders to enter the market on the long side here.
Tags: General Market Commentary · S&P 500
4 responses so far ↓
1 davidino // Nov 13, 2008 at 4:06 pm
Great calls. Trustable systems.
2 BearOfNH // Nov 13, 2008 at 5:00 pm
Nice Call. I got out of some OIH puts (profitable, from an earlier bearish-oil post of yours) and bought some DDM around 3PM. Overall it’s been a good day – thanks!
3 kumon // Nov 13, 2008 at 6:03 pm
An excellent call!! Thanks.
4 deacon31 // Nov 14, 2008 at 9:36 am
ES 910 is the high again today thus far…30 min charts have been reliable all sessions and on ES ye ole oystercatcher 72MA comes in about 875, breaking that zone look for 850(all option strikes)…VIX closing down -9.98% similar to election day provides for a possible consolidation into monday, and now the strikes in play on 9:30am open are 900 SPX 30 QQQQ…the ted spread and those other credit indicators are moving the wrong way again, due to paulson changing the plan away from buying toxic debt
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