The scenario of the important 805 area holding on the S&P Emini in my option is very important. One thing that keeps me thinking that we may in fact hold this level is I actually can't find one bullish piece of news, blog, article all weekend giving any bias or thought to any possible move up in this market, everything is negative! ( The bailout is Hated by Republicans, Asia was terrible Monday trading, The futures are lower). Man you would think the world is over and we should all just give up. The bailout was voted in by the senate on Friday evening. I have a feeling the there could be some clarity given to bank assets and mortgage foreclosures very soon. I have to believe they are aware of the reactions since they have addressed the details very minimally last week and have had nothing but lower stock prices after the fact. Maybe I'm just an internal optimist, but buy the market as long as we hold 805. Good luck and Happy trading!
Monday, February 16, 2009
Tuesday 805 Holds or Bust Lower
The scenario of the important 805 area holding on the S&P Emini in my option is very important. One thing that keeps me thinking that we may in fact hold this level is I actually can't find one bullish piece of news, blog, article all weekend giving any bias or thought to any possible move up in this market, everything is negative! ( The bailout is Hated by Republicans, Asia was terrible Monday trading, The futures are lower). Man you would think the world is over and we should all just give up. The bailout was voted in by the senate on Friday evening. I have a feeling the there could be some clarity given to bank assets and mortgage foreclosures very soon. I have to believe they are aware of the reactions since they have addressed the details very minimally last week and have had nothing but lower stock prices after the fact. Maybe I'm just an internal optimist, but buy the market as long as we hold 805. Good luck and Happy trading!
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