Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Monday, July 14, 2008

Hey Eric, What do you see for tomorrow

This is a Descending Triangle setup.... I don't see up futures, but maybe the market struggles for a small Rally, The SPX comes back up to 1240 ish. Back down to 1226... maybe even break 1226, then a small little rally, maybe 1230... Then we break through.... The model says it should break down noon-the close. It could wait till Wed. morning to break down. The target is 1190 on the SPX.

This level is serious resistance... that is the only reason it hasn't broken down.... but it Will.

Financials are Very compressed, Expect some Strength for an hour or 2, then they should be good to short.The SKF should Get a Pullback deeper into the trade channel. But..... Seriously it's riding very aggressively in the channel, and this move is not even half way over.

A limit order at 174, and Just see if the volatility will fill it. This should Revisit the Trade Channel Maybe an hour or 2 into trading. 176-180 would be a Target.

I've made some additional money Playing some of the volatility against the market. putting Ridiculous Limit orders Way out of the Trend. Sudden Market orders are pushing WAY out of the Actual Trends. an order as little as $1000 10% out of the money Makes you $100. Free Cheeze.

also Catching Panic In the Pre and post market is nice Too. The Vix hasn't spiked but... there is Mucho Fear.

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