Weekly forecast for S&P 500 cash 2011

[Pat494]

Much obliged Pat, that's great. However, I'm not sure now - if it doesn't break above 1340-42 it's going back down to 1295???

Will not be placing a live trade at this moment in time until it retraces back to 1312 - which is what I think it will do. Then I'll consider longs with support at 1310s.

At this moment if I were to hazard a guess - I'd be placing a short at 1338, with target of 1318 and a SL of 1342. Like to see a clear break out which I can't at the moment.

Got it absolutely right At and then did the opposite ?

Is that a contrarian move or what ?

 

[Atilla]

Got it absolutely right At and then did the opposite ?

Is that a contrarian move or what ?

No simply feel an absolute fool for getting mixed up and rushing and not reading things properly. I have same problem with emails at work. Info overload.

Trade stopped out. I realised the mistake after trade placed. **** happens...

 

[Pat494]

For Week Ending Friday 29nd July at 1292.3

Name...........Call.........Direction.......Podium .........sub Total……………Total

Gaffs1964……..1312…………1……………..….3…………….……..4…………… … .…..10
Pat494…………..1327……..…1………………….0…………………….1……………… . .….9
Slippery C......1315........1...............2.............. ..3...................7
robster970…….1320………..1………….………1…………………….2…………..… …. ..6
Isatrader……….1365.….……0………………….0…………………….0……………… … ….4
Atilla……………..1360…………0………………….0…………………….0……………………… 4
dpinpon.........1325........1...............0.. ..............1..................4
wackypete2.….1365………..0……….…………0……….………..…0………….…… …….3
Av………………….1338…….….1………………….0…………………….1……….…... …. …3
Tim3............1350........0...............0.. . ............0...................2
Wt av…………...1334.……….1…….…….…….0………………..….1……….…… …… ..2

Gaffs1964 zooms into the lead, hope you bet on yourself ? So congrats to you. The general direction was right too.
:clap:

 

[Atilla]

For Week Ending Friday 29nd July at 1292.3

Name...........Call.........Direction.......Podium .........sub Total……………Total

Gaffs1964……..1312…………1……………..….3…………….……..4…………… … .…..10
Pat494…………..1327……..…1………………….0…………………….1……………… . .….9
Slippery C......1315........1...............2.............. ..3...................7
robster970…….1320………..1………….………1…………………….2…………..… …. ..6
Isatrader……….1365.….……0………………….0…………………….0……………… … ….4
Atilla……………..1360…………0………………….0…………………….0……………………… 4
dpinpon.........1325........1...............0.. ..............1..................4
wackypete2.….1365………..0……….…………0……….………..…0………….…… …….3
Av………………….1338…….….1………………….0…………………….1……….…... …. …3
Tim3............1350........0...............0.. . ............0...................2
Wt av…………...1334.……….1…….…….…….0………………..….1……….…… …… ..2

Gaffs1964 zooms into the lead, hope you bet on yourself ? So congrats to you. The general direction was right too.
:clap:

Well done Gaffs - good one.

Pat your API has 2 out of 2...
I hope to read your summary post 'carefully' and place another trade next week.

 

[Pat494]

It largely seems to hinge on what decision those people in Washington make on Tuesday. Barring them I would have said down, so it would have been 1251 for me.

Surely they won't collapse the world's financial systems, will they ? so my final and optimistic forecast is up - 1351

 

[robster970]

Nice one Gaffs.

I think Tuesday will be a damp squib - reckon the raise is priced in and as a technical default won't occur until the US actually miss a payment then I think it's just political noise.

 

[dpinpon]

Two weeks ago I read too much pessimism in the news, now they are dissipating. Even some renown traders predicting big run to the upside, We re still in a long bull run, imho, but thinking like Pat, depending on what is the outcome in Washington on ceiling debt. Hopefully 1344 for next friday.

 

[tim3]

Well done gaffs

Hmm thinking I may be a good contary indicator.

 

[pipsurfer56]

Can you recommend a good emini futures broker that does not have a high starting deposit?

 

[Pat494]

Can you recommend a good emini futures broker that does not have a high starting deposit?

If you have £150 or so then try a spread bet company

 

[Pat494]

Well done gaffs

Hmm thinking I may be a good contrary indicator.

Your time will come Tim - keep plugging on mate.

 

[Gaffs1964]

Ah Thanks - somehow I managed to win being 20pts off the close! - thank you Senate!
Surely they won't default....will they?
1340 and crossed fingers for me.
good luck all

 

[isatrader]

1295 for me this week please

 

[Atilla]

1327 please...

 

[wackypete2]

1330

Peter

 

[tim3]

1309 please Pat.

 

[isatrader]

I'm going to revise my estimate please Pat as the weekend debt deal looks to have changed the sentiment from the looks of the European open this morning.

So I'll adjust my prediction to 1333 please

 

[Pat494]

i'm going to revise my estimate please pat as the weekend debt deal looks to have changed the sentiment from the looks of the european open this morning.

So i'll adjust my prediction to 1333 please

ok

 

[Pat494]

Investors were still on guard, though, since the plan, which will likely come to a vote in Congress on Monday, may not satisfy Standard & Poor's enough to keep the U.S. triple-A debt rating and also begs the question of how the U.S. government will meet its obligations over the long term.

"For the rally to be durable, markets will need more than this downpayment agreement," said Mohamed El-Erian, co-chief investment officer of PIMCO in Newport Beach, California.

"They will look to a more coherent fiscal reform to emerge from the second step and, more generally, for additional measures to remove structural impediments to growth and jobs. Markets will also be asking whether this two-step agreement is sufficient to remove the threat of an S&P downgrade."

 

[robster970]

Bugger, missed this week.