Dow 2008

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dc2000

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New year with new buying opp
Pesonally Im looking to start buying early and hold some positions into Febuary the down side of this is that I will also be looking for a decrease in volatility after the first week ish lasting for most of the first quarter
 
so far so good with 90+ points onside, 1st significant fig to the upside is 13967 random? or 5.8%
 
so far so good with 90+ points onside, 1st significant fig to the upside is 13967 random? or 5.8%

That is a very brave call DC. I still have the DOW trending down on the daily charts - in a 13000-500 range. Anything above 13550 is likely to break the current SR lines. On the hourly charts I have 13300 as resistance.

That is a very high target imo. Any time periods on that call?

I'm flat at the mo and waiting for some guidance from the markets and the Fed...

Good trading everyone...
 
New year with new buying opp
Pesonally Im looking to start buying early and hold some positions into Febuary the down side of this is that I will also be looking for a decrease in volatility after the first week ish lasting for most of the first quarter

maybe you could post the rules for taking this trade(s) in this thread?
 
That is a very brave call DC. I still have the DOW trending down on the daily charts - in a 13000-500 range. Anything above 13550 is likely to break the current SR lines. On the hourly charts I have 13300 as resistance.

For a downtrend to be in place, we need to have lower highs and lower lows. This isn't the case. If anything, we've been in a sideways consolidation for last couple of months (on larger timeframe), which still has the possibility of setting us up to break 14000.

Btw, we had a strong bounce of support overnight on the DOW. That was my buying cue but unfortunately I was asleep :| Let's see how she goes today, but last couple of days have been down on pretty low volume.
 
Ouch, hope nobody got stung there, huge drop, why I like the sidelines on news release, now to look to see if I can get an entry
 
Ouch, hope nobody got stung there, huge drop, why I like the sidelines on news release, now to look to see if I can get an entry

well it's right down to support... so, long again for me 13230 fut
 
Quite a convincing bounce off 13,100. 12,800 might be the next stop if it heads down again now, though?
 
Oh dear, went out with stop in place, got back to see closed out, not a good start to 2008 on the dow. Oh well, theres always tomorrow. hehe.
 
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