Is It Time Cash In On This Rally ?

[swager]

Well its Thursday 17th Aug 2006 and in the mattor of days we have seen big upwards movements in the USA main Index's.
For my wallet the spx needs to hit 1300 on the cash then we should see some pull back to 1280--1278 before any more upward movement .
This is my first ever post, so please dont fire me down.
Please treat me kindly and I will post some of my thoughts again.

 

[ammo]

we hit your number and i hope your short with stops good call

 

[dc2000]

interesting thoughts I take it you dont think we will see 1304 Friday

I dont suppose you own a Bentley

 

[ammo]

ive been wrong since friday and dont believe this rally,i think we should have trade down to1296 this afternoon,summer volume ,the oil pullback is done and now we will worry about economics again, if your long you'll be happy to know i'm always early

 

[Peter]

Welcome to T2win Swager... long time.. since the TT days..

good to see you back on the scene.

Pete

 

[Hook Shot]

Cash in ? Tempting so we'll probably get more upside today.
I think the largest intraweek range we've seen this year is "around" 53pts Spx so that gives us near 1320. Also the largest overshoot of previous weeks high is "around" +22/23pts taking us to 1306/07.

Happy Trading

Hookie

 

[swager]

Good coment DC,
We can easily see an exaustion on the SPX today taking out 1305-7.
But theres something in my water telling me if this happends the price will reverse as fast .
Next week will bring lower prices and on that basis im a seller waiting for higher prices to short.

Pete thanks for the welcome, TT days I cant remember them LOL that swager must have been another swager LOL . :-0