Thursday, August 7, 2008

8.07.08 Settlement





Position Time Type Price Average Price Type P/L








-1 9:30


1287.75 Close
0 9:35 BF1 1275.25


$625.00
-1 10:05


1279.75 SE1
0 3:00 BF1 1272.25


$375.00
1 3:30 BE1 1264.25



1 4:15


1268.00 close $187.50














8.80% $1,187.50

Today's P/L is $1187.50; for a 8.80% gain.

We entered the day short (-1).

Intra-day we bought 3 and sold 1.

We conclude the day long 1.

BE1 Filled

Filled 1264.25 BE1
Sep Emini





Position: 1







Working Orders:








Buy
Sell
Type Price
Price Type



1269.75 SF1





BF1 Filled

Filled 1272.25 BF!
Sep Emini





Position: 0







Working Orders:








Buy
Sell
Type Price
Price Type
BE1 1264.25
1278.75 SE1

SE1 Filled

Filled 1279.75 SE1
Sep Emini





Position: -1
1279.75





Working Orders:








Buy
Sell
Type Price
Price Type
BF1 1272.25
1285.75 SE2










BF1 Filled

Filled 1275.25 BF1
Sep Emini





Position: 0
1287.75 close





Working Orders:








Buy
Sell
Type Price
Price Type
Be1 1265.25
1279.75 SE1





Good Morning

We enter the day short (-1). Working Orders below:

Position: -1
1287.75 close





Working Orders:








Buy
Sell
Type Price
Price Type
BF1 1275.25
1287.75 SE2





Which way do we go from here? Emini - 8.07.08

Yesterday's close may have set us up for the perfect SELL

If you take a look at the chart to the right (you may enlarge to see small fonts), note the perfect wave pattern and retracement off the lows.

Could it be anymore perfect?

For those of you that understand Elliot Wave and Fibonacci, you can't deny a chart like this one.

This pattern must be completed and that means a new low - projected low somewhere around 1175.

Beware all bulls and be careful here.

Puts are cheap and try to sell rallies... it may indeed be a great move south for the Bears here.

Barlow