Replies to post #9598 on Market Sense and Sentiment (MKTSS)

[RCKS]

Bob a 200 point day negates all the rules correct?
steve

[was Steve]

in edit: of course saying this will curse it for sure and cause a rally (gng)


looking at my am prediction that if 1040 was lost on ndx the index would be off 5% today adn dow would be off 250 points. looking REALLLLY good right now. 5% on ndx is 1011 and if markets move down that gets the dow to 250 or more in 8500-8520.

i love when a plan comes together
s

[bbgold]

That is pretty close
Actually the Lower we are the Better for a Potential bounce. 8500 could also be a Support level. Remember that we are Bearish again so any Calls are only played back to Resistance. We still have not had any Major retest of the 320SMA Resistance though and that is why I am Anticipating another Bounce. We could still resume the uptrend as long as the 320SMA is Inclining. Remember, it is indicating the markets direction and until it turns Down and we continue trading Below it there is still a chance that we could move back Up. Nothing wrong with taking profits on the Puts or picking up some Calls as a Hedge. We are Anticipating that the markets will eventually follow the FTSE and the Bonds Lower. As long as there is a Possibility of a significant Bounce it will be Safest to continue to look for the Potential Call triggers IMO. Does that help? Let me know Ok? :^)

Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!