Replies to post #33088 on Short Term Trading Member Forum

[pegwatcher]

Looking good so far, Prophet. I would be interested to know how you come up with the 1355ish number?

[Estimated_Prophet]

SPX has been, initially at least, rejected in the 1385-1390 area. In a 3 unit trading system, one unit can now be taken as profit(5-7 points depending on entry), and worst case breaking even on the rest of the units if the bulls decide to press up to 1390+. The goal here is 1350-1355.

[Estimated_Prophet]

1355!!!!!!!!!!!! Take third unit for 30 points. Totaled 50 points in 3 trading days.

The bear could crash this thing now, but I'm guessing the bulls just might win the battle here in the 1350-1355 range. One could long it in this range(lower end), set the 3 unit trading system or reshort that third unit at 1359ish for the possibility the bear goes for fresh new lows on the year.