Replies to post #7228 on Zeev's Turnips Patch-No Politics (ZEEV)

[was Steve]

aj,

What speed bump. We have been going straight down hill (gg).
Is a retest a requirement in a counter trend rally? That is all that I think we have coming. I feel we are pretty much there as the indexes have hit the upper ends of my target range. If tomorrow brings more red in the am, then we will likely try the lower end of my targets.

Perhaps I could reduce risk by buying index options instead of QLGC and QCOM. Stops would be used in either case.

My index entry target ranges for entry are below with todays lows

SPX 780-800/ 796
NAS 1200-1240/ 1228
NDX 890-900/ 896.6
SOX 328-340/ 338

[jdaasoc]

I was looking at S&P futures at CME and saw that DEC futures were off 6 to 790 vs SEP off 3 to 793.
I am not an expert on futures but would that imply that they are thinking that things will get worse by DEC therefore the lower price.