Monday, October 27, 2008

so far the market resists crashing though 854/8076

funny how all the overnight hoopla turned out to be nothing again

are they lulling us to sleep right before the crash?

new moon, FED meeting announcement, GDP report, election, unemployment

so far the hourly S&P and DOW futures seem to be attracted to 884/8440/1208 and are swinging wildly either side by 30/250/50 point ranges

late day sell off could lead to the overnight disaster.

trade what you see not what you want

and that is easier to do if you are FLAT your positions when you are "seeing" the pattern

last hour of trading begins with the major averages giving up their gains

we will see

short november and december calls hoping that the S&P continues to fall into 780-735 target (outside chance at 664)

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