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      06-07-2012, 06:23 PM   #979
Vanity
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Quote:
Originally Posted by EvosM3 View Post
Hmm, not much selling AH. Are you sure we're going to go down tomorrow? If anything, I would think we sell off a bit towards EOD tomorrow but that's about it.
I posted before that the intraday reversal on Monday was going to hit an area of 1290-1342, and today we got as high as 1328 and reversed to 1315. I'm good from these levels. Locked in my profits from shorting down to Monday, sold out, and then averaged down by -50%, so another move to 1340 (should it happen) doesn't bother me. However, I'm not going to get greedy and milk these rallies. That will put me in trouble eventually.

And good job to everyone day trading this week. Good strategy . From Monday till today, TNA returned 20% in 3 days, very nice buffer.


Quote:
Originally Posted by r0wr View Post
I definitely think that we are on the 1st leg of the 2 legs going up. There's no question about it in my mind. We should be expecting a higher high ahead. Rally target could be around 1340 but I still think we have 50% chance of SPX making a lower low.
What are your thoughts of the first leg having ended, or near ended, and the markets making another large leg down before a large counter-rally follows suit (2nd leg up), then the big fireworks? The reset this week and prop-up has delayed the crash imo.
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Last edited by Vanity; 06-07-2012 at 06:28 PM.
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