Replies to post #17866 on Short Term Trading Member Forum

[grizzly]

I am short, although I would not bet on SPX 950 as soon as Monday, but I wouldn't bet against it either. Such a huge drop would have to be triggered by a scary event, and that I would not like to see.

[foolton]

Oh stop it.
Am i the only one LMAO.

1200 S&P by close and 950 S&P by monday.
That's insane. We'd have to have a 63 point S&P drop today and 250 point S&P drop on monday.

Who here actually thinks that's going to happen, save for Bliss?

I covered my NQ shorts today at 1643 because that's the 200 EMA on the daily charts. I do think it's a good chance we'll drop more, maybe 1623 area. I never try to get every penny i can out of this market.

But a 250 point S&P drop in one day????!??! Even Hurst would laugh at that.

By the way, what about trading halts???

[mr_cash4]

bliss, SPX 950 on Monday, Feb-13??? Bet you a lunch it does not happen.

[teaparty]

If you look at an OEX charts.....60 min, 120 min and a daily...you could very well make a case that we tested the lows and we have bottomed this correction on Friday. I'm still on the fence and next week is traditionally weak.....but my work says big caps are leading and beware of next leg up. Still have target for oex of 600 and then 616. If we get one more push down...I feel strongly that 565 holds the downside. The highs are not in yet and as I've posted before, I have a theory that we could be going a lot higher than most expect. Here's a link for comparison purposes with the updated charts below.
http://www.investorshub.com/boards/read_msg.asp?message_id=9571534

If we break out the top of the wedge marked in red, that should confirm the bottom is in. Otherwise we still have the second "c" of an abcxabc to come.

[techcharter]

Market Decline rest of February

The TA poll I've made indicates there will be a market decline over the next several weeks. Both the E-waves (prechter) and Cycles (Tim Woods) are indicating a noticeable market declines. Zoran Gayer and Rober McHugh are looking for confirmation of a top using e-waves.

I've been watching FNM, GM and the 10yr US T-note yield.

FNM wave count and fibonacci ratios are prime for a substantial decline.

GM zig-zag bounce is complete and the price confirmed with a relatively quick decline this week.

The T-note yield had a zigzag consolidation this week. It didn't make a fibonacci 38% retracement. It would have inverted the yield curve way too much. The initial move out of the zigzag has nearly offset the consolidation. The underlying market wants the yield to go higher.