12.03.2008

MORE OF THE SAME


Markets set to gap down yet again and the usual trade for days like this- short pull ups and hold for the close as the markets have generally ended big down days at the bottom.


Only things that would make me turn away from that trade- rapidly changing market internals, ripping finanicals or big green bars- none seems likely.


SPX recent high 896 - recent low 741- 50% retrace 820 level so a bounce from those levels is possible - 837 a 61.8% retrace level - and if we go through 820 - next stop 800 - which is also the 38.2% level.


VIX + MORE on a selling climax.


BESPOKE on the bounce.


And your own private bailout.

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