I saw the Ron walker video also about the right shoulder on the S&P index to develop the head and shoulders. however Ron did warn that the lows may be tested from yesterday, and if that happens, than it would be another great buying opportunity if the S&P index does get any where near the 1074 range.
but in the meantime, the bulls are getting killed. this is not a sit and hold since this is not a regular market but extremely volatile, and therefor a dump strategy, and let it fall, than get back in safely after the lows are tested...otherwise anyone just sitting and holding playing the sitting and holding game on the long side is toast.
Good trade Bwoo. I haven't made my decision yet about what I'm doing for the weekend. Fundamentally, when the market opens Tuesday (a bad day for the markets), they will be faced with increased risk of defaults in PIGGS. A potential for the BP thing to be "capped" OR, if not, a potential for a huge drag on the markets +++ The volatility has been unreal and IMO is leading up to a major fall once agin. I'm real tempted.