As you know, I'm not a big believer in triple bottoms and the ES (chart) one is somewhat suspect. My target for this correction has been between 1375/1400 for SPX and 12850/12980 for the DOW. We are getting there, but expect bounces on the way. SPX 1425 could be an opex pin, but with QQQQ 47 giving way, who knows where they want this one. Play this day by day, and grab some when you can. Do not hold on to anything this week, short or long. Trade it.
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on Tuesday, August 14, 2007 at 8/14/2007 05:55:00 PM.
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