RE: [RT] Beige book

["EAdamy" <eadamy@xxxxxxxxxxxx>]

Closed out at 1298.50 for 18.25 handles. This was driven by need to roll into December and hitting confluence of possible support at 1298 (gray trendline and 162% retracement). This is where it gets tricky. It will be easy to re-enter short on a bounce but I hate entering on downside breaks.

 

Earl

 

-----Original Message-----
From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx]On Behalf Of EAdamy
Sent: Wednesday, September 06, 2006 2:23 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: RE: [RT] Beige book

Here's a 120 minute chart with gray trendline (drawn using the daily) and the retracement tool applied from the 1304.50 low to the pivot high. Support clustered at the 127% retracement however better support at confluence of the 162% and the trendline.

 

 

Earl

 

-----Original Message-----
From: realtraders@yahoogroups.com [mailto:realtraders@yahoogroups.com]On Behalf Of ketayun
Sent: Wednesday, September 06, 2006 1:40 PM
To: realtraders@yahoogroups.com
Subject: Re: [RT] Beige book

Earl, please would you post a chart? I see the trendline but the 162 % retracement?

 

Thanks.  

----- Original Message -----

From: EAdamy

To: realtraders@yahoogroups.com

Sent: Wednesday, September 06, 2006 3:09 PM

Subject: RE: [RT] Beige book

Ignore the Beige Book, market appears headed down. Initial support for SP emini is in 1298 area at confluence of 162% retracement and trendline from 7/18 low. 1294.50 not likely today but that would be a weekly Thrust Reversal ... even more bearish.

 

Earl

 

-----Original Message-----
From: realtraders@yahoogroups.com [mailto:realtraders@yahoogroups.com]On Behalf Of ketayun
Sent: Wednesday, September 06, 2006 11:31 AM
To: Realtraders@Yahoogroups. Com
Subject: [RT] Beige book

Any prognosis?

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