Bought Aug calls around SPX 1200 level. Risking 4% of my account. No stop.

Technical reason - SPX 1200 was the measured move target on daily charts.
Tactical reason - Bounce is inevitable. Even if we crash a spike reversal will bail me out at breakeven or profits.

We shall see.

You see a pattern in there somewhere?



Must be the bacon....

Semi,

No pattern. When was the last time you saw 2800 decliners vs 200 advancers ?

Capitulation

P.S - Intraday, we could visit 1180. Or maybe not. Certainly, not for the faint of the heart.

Good thought. I was thinking about risking 10% of my account for the call. But as I have been waiting for a while, I like to wait a couple more days before jumping in. This is getting interesting.

simple SPX weekly -

http://investorshub.advfn.com/boards/read_...age_id=30704439

Well, you got the round number bounce, but you had a volume spike low that needs to be tested. And the main theme here in my way of thinking is that 2155 Nasdaq...

Maybe SPX can hold here while that gets under way, but FNM still needs to test 6.68 also...

"In general, healthy economic growth depends on well-functioning financial markets. Consequently, helping the financial markets to return to more normal functioning will continue to be a top priority," - Bernanke


"Helping" being the key operative. Now, where's the PPT ?

Reminds me of that old Burger King commercial.

WHERE'S THE BEEF?!

JDJ