Hi Lisa,
I could have been quicker with the "traders alert" posting this afternoon, but I had a concern that as soon as I posted the possible alternative scenario, the market would turn up hard due to the number of traders following this thread, and prevent anyone from getting out with a profit. So I decided to wait until the market had momemtum going in the B wave down, then do it.
When I posted the alternate scenario at 3:42pm eastern the market was selling off nicely, and all short positions entered after 12pm eastern were profitable. Within 10 minutes of the posting, the market rallied nearly 4 points in a straight up fashion.
Now I'm not gonna flatter the Kahuna thread by saying there was a direct correlation, but when that harsh rally began at 3:43pm and pinned the S&P fut. back above 1119 for nearly the rest of the day, without letting the progression of down waves that had begun finish, I begin to wonder if my concern was not based in a small degree of reality. Maybe someone else can give another rational explanation, I dunno.
Whatever the case Lisa, any shorts entered in the last couple days will be golden by midweek, so don't let the Easter Bunny go hungry over the weekend... K? :o)
Regards,
David
P.S. I plan to make arrangements over the weekend that will allow me to be quicker on S-T updates next week. |
