Wednesday, November 12, 2008
Stock Price Bottom Prediction: qqqq, NDX, NQ, QID, XLF, DOW (Wednesday November 12, 2008)
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11:33AM: with NDX at 1194, we starting to scale on the long side of stock market.
12:21PM: with NDXt at 1186, we completed scaling in.
We executed entry by selling ITM puts.
PROFIT Taking:
10:10PM: with NDX at 1199, we took the profits on the part we entered into at 12:21PM. Profits are 13 NDX points.
We will re-enter this part on retest of lows (if any). If no retest, the part that we left will do the work.
Re-entry:
10:23PM: with NDX at 1190, we re-enter the part for which we took profits at 1199.
It is now 1:56PM. The market is moving down, and this is the equivalent to taking someone to a back dark ally to take his money. We believe that the guys being taking to the back dark alley are the sellers.
We have been using a reduced size to play the long side. Now it is time to bo back to normal size, and if need be to even double the normal size. We smell blood in the market, and it is time to slaughter.
2:04PM: first step to go back to normal size is done with NDX at 1179. Second step is put currently as limited order in the area of NDX at 1174.
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