ES Journal Archive (2006 - 2008)

Buy the rumor, sell the news. Almost as reliable as the rule of 10.

 

wow.. new weekly low :eek:

 

1112/21%, 1101/38%, 1095/50%, 1088/61%, 1079-80/76%,
1065-1066/100%........

 

they have about...an hr and a half to fix this. now that the gap has closed, a convincing push above the gap shows strength. lets see what happens.

 

Over the weekend people will start to truely think over the impact of the bailout plan.

If it can indeed do what it is suppose to do, we may avoid "much" further downside in the mkt afterall.

Edit: As stated before in this thread, once 1160-1180 was taken out, I deem 1080 the first level of support.

 

The SPX 1206 DB just needs to hold

 

or the benny copter swoops in.

 

I'm not so sure that the bailout bill will be able to convience enough people to start investing in the stock market, especially since earnings season is set to begin next week and is expected to be dire.

 

Long 1115, 10 pt stop or exit eod.

 

long spy 110.94 $1.00 stop