Tuesday, October 16, 2007

Limits

N QQQQ 52.59 - 52.97
N SPX 1540 - 1544 ( very tight?)

10:13 ET SPX turned exactly around the top 1544.
10:26 ET For two days in a row, the Hihg Limits provided incredibly profitable short entries.
10:40 ET New Fresh low below todays lows... Could mean a (mini) crash, there is also petential that we have bottomed for a while... Thus I suggest that trailing stops are in place ( real or mental, come on now, do not risk profits you may have)
11:25 ET, Above note, started the rally!
11:39 ET passed the 3rd Resistance and approaching the 4th at 53.40

Have you noticed, the 204 Level For FXI ( CHINA ETF) have come and gone ( hit 208 now 202). I do not think so. God help us all... This ETF is going 250! and so is the EWH ( HONKONG ETF) to 26 from current 21 area. Do not say I did not tell you

7 comments:

lagscrew said...

Boris--THX!!

My SRS doing well and added shorts at the high

Lag

boris said...

Dear LagScrew, welcome back.

Enjoy, anytime budy.

Good Trading

Mark P said...

Good morning Boris/all

Haven't posted much lately - not much to add really - still short from friday - Vix chart hit resistance today - a break below todays lows leaves door open for an explosive move down (i.e. mini crash).

Regards,

Mark P

boris said...

Dear Mark P,
Thanks a lot.

Good Trading

mlytle said...

Boris and all,

My feeling is we've bottomed for now...we hit 1536.73,I was thinking low 1535ish, but that'll work..

we are completing a small flat now, I expect bounce up to the 1550 -1555 range..next entry point is up there for shorts I think...

Regards,
Mark L.

Blaine said...

A few things:

I love how the Sopitalists are distracting us away from the real reason oil is $88 - inflation. It gets pinned on "Turkey/Iraq."

Citi is breaking down today and is at a 52-wk low on huge volume.

I quote a Jim Cramer article title: "WB, BAC, WFC Cracked but Will Be Fine." I love the Sopitalist lies.

boris said...

Dear Mark,Blaine,
Appreciate comments.
GOod Trading