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Thursday’s Trading – 9/17/09

The IWM sliced right through the bulk of its October 6th gap in a very impressive show of strength on Wednesday. Nevertheless, the resistance should be strongest near the top of the gap at 62.03. That’s only 23 cents away from where the IWM closed on Wednesday, and it would be very unusual for it to just sail right through the gap without a struggle. The market should stall, at least for a bit, in this area. But who knows? This is the least logical rally in history.

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This entry was posted on Thursday, September 17th, 2009 at 9:13 am and is filed under Investing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

114 Responses to “Thursday’s Trading – 9/17/09”

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  1. K says:
    September 17, 2009 at 4:43 pm

    phil,
    thats me. :D

  2. phil says:
    September 17, 2009 at 4:45 pm

    K….at least you are paper trading so if you fall off that bridge it wont hurt

  3. Yerk says:
    September 17, 2009 at 4:49 pm

    here is the papertrading bear
    http://evilspeculator.com/wp-content/uploads/2009/09/donnerpass.jpg

  4. admin says:
    September 17, 2009 at 4:51 pm

    Jayme,

    The Fibonacci box technique is from the book “Fibonacci Analysis” by Constance Brown. The idea is that you can use the fib levels from one range of the chart to project support and resistance in the next range. There have been a whole series of boxes since the March Box.

    Matt

  5. K says:
    September 17, 2009 at 4:53 pm

    phil, who sai I was papertrading? ;)

  6. K says:
    September 17, 2009 at 4:54 pm

    Matt,
    have you wondered why the boxes have been stacking up?
    cause all the ships are stranded at sea and we got nowhere to put em.

  7. Mitch says:
    September 17, 2009 at 5:03 pm

    I think the DQC ignores me?

  8. phil says:
    September 17, 2009 at 5:40 pm

    K Says:

    September 17th, 2009 at 11:48 am
    I have decided to pull a dressguard.
    Taking a break from real trading at this very crucial breaking point (it’s near and I know it)

    sold off all positions gonna paper trade again
    >>>>>>>>K… you said it

  9. K says:
    September 17, 2009 at 5:41 pm

    Phil.
    read a few posts below that. I pulled a half a dressguard for now.
    I made a full pull then saw things come down and said “damn it. phil playing games with me” and got in.

    :P

  10. Dressguard says:
    September 17, 2009 at 6:15 pm

    …to pull a dressguard

    Hey guys, what does that mean???

  11. K says:
    September 17, 2009 at 6:56 pm

    remember you said you stopped trading a few months ago? :P
    then market rallied LOL

  12. K says:
    September 17, 2009 at 6:57 pm

    oops didn’t mean to click submit.
    …and I tried to stop trading so market would crash.

  13. K says:
    September 17, 2009 at 7:08 pm

    sorry about this if it goes through. blackberry testing commenting for the future

  14. Stringm says:
    September 17, 2009 at 7:18 pm

    Yerk

    Phil does like to be teased. Remember who is Phil’s Daddy?

    String

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