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Previous Intraday Trading Session: [ 11/7/2008 ]

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TIMEALERTS 
15:48Odd day.

 
15:25SPX 900 is a real possibility before the close today.

 
15:00Obama did not say anything new.
Markets sharply lower.
We are short at 918.50

 
14:57The SELL at 919 still stands.

 
14:56There is a minor reversal at 15:00

 
14:55Obama speaks, and the markets start going lower. Mmmmm......

 
14:42Looks like the Obama news conference is holding things up, literally.
I do not think we are going to finish this day this high up.
Be ready for a quick sell off.

 
14:25Everything is still flat.

 
13:57Sticking with a SELL if we move below 919.

 
13:56Numerous markets are indicating a move to the down side. Just cannot get a good clear signal right now. Stay tuned.

 
13:48A retest of 921 is expected.

 
13:46Minor support at SPX 918
Major support at SPX 900

 
13:38A move below SPX 919 would generate a SELL signal.

 
13:31Breaking to the upside.
Exact time of reversal is 13:40

 
13:26Should see movement in the next 10 minutes.

 
13:25I would not buy into a break to the upside if that is what happens in the next few minutes.

 
13:20Market is clearly building up for a big move in the next 30 minutes.

 
12:49Ouch. We hit 924. That was too risky.
Still waiting for the move down.

 
12:35We are short 919

 
12:32NDX is again sending the clearest signals.
A reversal seems to be minutes away.

 
12:27Waiting for 919

 
12:22Risky play. SELL at SPX 919

 
12:18Confirmation is starting to build for a move down.

 
12:15Waiting

 
11:54A move below SPX 913 before 12:30 would trigger another SELL.

 
11:52Another possible reversal around 12:15

 
11:45Some resistance at SPX 920

 
11:43Stopped out at 917
The low was around 913.50

 
11:24There is support at SPX 912

 
11:12Reversal is taking effect. A move back to the open is possible.

 
11:00SPX at 923

 
11:00** SELL
We will try it one more time.

 
10:35SPX hit 928 and is now down to 923.
Looks like i called that reversal a few minutes too soon.


 
10:23Still expecting a reversal here.

 
10:23Stop out at 925

 
10:18There is resistance at 924, and we have touched it. A close on the 2 minute charts above 924 would be enough to stop me out.

 
10:14** SELL
I think 908 is possible.
SPX is at 921

 
10:1010:20 is shaping up to be a reversal.
Could be a short play here.

 
10:00SPX 920 is looking like the top. We might touch that again today. I do not think a break above 920 will last long.

 
10:00Not expecting too much today.
As predicted in the newsletter, Monday or Tuesday, and Thursday were the days for big moves.

 
09:44Scanning

 
09:21Good morning!

 
 
 
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