Dow 2006

[Hook Shot]

Bitter Sweet

I also remember being heavily short Glaxo, Royal Bank and Barclays going into summer of 2001.......... with market tanking (in anticipation of ....) they were the only ones near 52w highs ?

Crazy Days....

 

[mark twain uk]

Yet another spike up on release of figures pre-market, it's been such a regular occurance that I wonder if I am the only gay in the village going short here. Anyway, closed half of my position before release, and reopened it at 1390 cash and 12,168, still in the red, but not as bad as it might have been.

 

[FetteredChinos]

long, dow 12,137, target 12,180, stop 12070

here we go again..

looks like i might finally get out of this bad boy after nearly a week..nearly go stopped out last friday, but its recovered nicely.

its been slow going lately though..

does look like a short-term top in the process of forming. Still am hugely bullish for the next few months though.

FC

 

[dc2000]

Still am hugely bullish for the next few months though.

same here FC just looking for a better price to get on board

 

[FetteredChinos]

and back into the range yet again...

really bored of this market at the mo...

 

[mark twain uk]

out for now, a hundred points drop requires a bit of a pull back

edited: still can't bring myself to going long, I can't do it, my brain says "buy" my finger does not want to move

 

[Pat494]

out for now, a hundred points drop requires a bit of a pull back

edited: still can't bring myself to going long, I can't do it, my brain says "buy" my finger does not want to move

Almost certain to be some salesman out there somewhere selling someting for your problem LOL
How about this one ?

There was a young man from Cheam
Who invented a flogging machine
On the 99 stroke
The bloody thing broke
And whipped his B*lls to cream

 

[mark twain uk]

Pat,

You teaser, do you have any positions at the moment?

 

[Pat494]

Sorry about the disgusting limerick
No real money positions. I am trying to pull togethor all my various indicators on a half hourly basis and scoring them +10 to - 10 to make a combined total at the moment.
I may have to get a bit more software if its a failure.

 

[Pat494]

Yesterday if I had done the exact opposite of the prediction it would have been profitable !
Some system !!

 

[karmit]

Yesterday if I had done the exact opposite of the prediction it would have been profitable !
Some system !!

Perfect! - just continue doing the opposite in that case.. don't see a problem - as long as you've backtested it and confirmed that it gives exactly the opposite signal all the time :cheesy:

 

[karmit]

PPI is down... to me it means that cost of production is less (not a surprise - with low cost bases
overseas)

BUT.. the important thing is that SALES are dropping...

Doesn't matter how low the cost of production is - unless you sell something and realise the profit.

hmm.. interesting to see what the CPI comes out as tomorrow...

 

[tricks]

out for now, a hundred points drop requires a bit of a pull back

edited: still can't bring myself to going long, I can't do it, my brain says "buy" my finger does not want to move

There's your pullback Mark. Tested support, now testing resistance. Now let's see it come back again and do it again! Tomorrow's CPI report will have a lot to say for the future direction in the medium term? Don't you just love range bound markets?

cheers - Tricks

 

[mark twain uk]

and back in on the short side, I will not be able to sleep tonight if I were to stay flat, I believe we are due a lower low before the end of the week

 

[karmit]

and back in on the short side, I will not be able to sleep tonight if I were to stay flat, I believe we are due a lower low before the end of the week

I think tomorrow mid-day UK time will be another good time to short.. when the pre-market pumps are in full blow...

 

[mark twain uk]

out for now, a hundred points drop requires a bit of a pull back

edited: still can't bring myself to going long, I can't do it, my brain says "buy" my finger does not want to move

That's it, I learnt my lesson, I've done it once too many times. I missed on a 150 point rally for no reason other than being utterly stupid. From now on I would not only sell fizzled rallies at resistance but also buy drops that stop at support. Simple really. I suppose I am making the transition between an amateur and a professional. Still, nobody got hurt (apart from my pride).

 

[kriesau]

Who was yearning for 250pt movements on the Dow earlier today ?
Well you got a 96pt rally in just 40 minutes that started at 14.20 !

Glad that I have held back on opening short positions on the Dow, SPX and Dax over the past week or so. Got stopped out for the second time in 3 days on the NDX but I was running cautious 15pt stops in both cases so the downside was limited. I still believe that the NDX will be the lead horse when the downswing finally starts but I'll wait until tomorrow before looking at any new short positions - maybe third time lucky

Are you still holding your Dow short from yesterday DC or were you stopped out this afternoon ?

 

[dc2000]

some large swings today bet FC's smilin

 

[FetteredChinos]

sure am guys..

finally got out of my scalp for +53 from last week.

major long positions on FTSE, Dow, Stoxx and Dax are all looking rosy too now..

Corfu for Christmas is on again...

 

[mark twain uk]

Needless to say I added to my shorts at 12,220 and 1,393 cash, I am still of the opinion that a high will be made this week and am still working to build a short position. I hope I don't get burnt by chasing a drop that never arrives.