Luna $ Ticks

November 20, 2008

OY VEY!!!

Filed under: Trading SPX SPY — moontrader @ 5:29 pm

If my date projection for a bottom sometime next week between Monday and Wednesday (I forgot Thursday is Thanksgiving) is right, then today’s drop is just the beginning. If this is so, then we’re about to live some sort of disaster. First my OY VEY chart, Treasury Notes:

tnx-112008

Then the SPY, what to look for in the next couple of days:

spy-112008

Tomorrow we might even have some sort of bounce, although I wouldn’t bet on it. On the other hand, if we do have this bounce back up, I don’t think it’s going to be scary. We might even open lower and bounce from the level suggested by 2Sweets, 725 (not sure if this is still valid tomorrow, Friday), but this is just a speculation. In any case, tomorrow and Monday should be incredibly interesting days. I’ll definitely hold puts over the weekend (a small position, obviously).

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6 Comments »

  1. You do great analysis, both technically and with the moon cycles. I was wondering, what study is the DPO on prophet?

    Comment by eighty4proof — November 20, 2008 @ 7:21 pm | Reply

  2. Eighty, it’s the Detrend Price Oscillator. Use two of them, one with 3 periods, the other with 7 periods. They are way better than RSI because they don’t have limits.

    Comment by moontrader — November 20, 2008 @ 8:33 pm | Reply

  3. I agree we may get a bounce here, this market is insane. After being short the past 3 days, I cashed out today with a huge profit. If we get a sharp bounce tomorrow I may consider another short play.

    Comment by jigsaw — November 20, 2008 @ 9:39 pm | Reply

  4. $USD grabbing for FRI +
    Commodities are going to be ditched.
    Market’s gonna tank hard FRI.
    Don’t know ’bout no bounce, this week or next.
    http://tinyurl.com/6pp9ll
    http://tinyurl.com/5mdb7h

    Also, ya’ll know if one of these fat bastards rolls over it’ll send unemployment through the roof and wage pressures down across the nation.
    http://biz.yahoo.com/ap/081120/congress_autos.html
    There’s goes more credit inflation – right out the door!

    Comment by fuzzygreysocks — November 20, 2008 @ 10:43 pm | Reply

  5. Ah, thank you I’ll add them to my analysis!

    Comment by eighty4proof — November 20, 2008 @ 10:50 pm | Reply

  6. Just FYI – as a thumb of rule: If we don’t make new highs the long RT levels remain the same.

    Comment by Molecool — November 21, 2008 @ 12:41 am | Reply


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