Dow 2006

[mark twain uk]

rxis,

lucky you

 

[mark twain uk]

Pat,

I'm with you on the DOWN trend continuing

Your avatar is driving me to distraction, are you sure that's not your picture, I would be prepared to drive to Cornwall to meet you

 

[Pat494]

Pat,

I'm with you on the DOWN trend continuing

Your avatar is driving me to distraction, are you sure that's not your picture, I would be prepared to drive to Cornwall to meet you

Sorry I seem to be distracting you from the MAIN business. I will try to find a pic of an iceberg or something soon

PS I am having doubts about the continuation of the down trend.

 

[Pat494]

How about my new avatar ?
( looks more like me too !!?)

 

[dc2000]

Its Casey Jones

prefer the old one

 

[houdani]

whoa! whats happening...10954?

 

[Pat494]

Its Casey Jones

prefer the old one

Hope I changed it before Mark blew a fuse !
The threat of him coming all the way to Cornwall to slobber over my avatar with kisses tipped the balance

 

[leovirgo]

Hi folks,

Of FTSE and DOW, which one is dragging down which? IMO FTSE is the one.

 

[Pat494]

Flat in general but with enough oscillation to take out stops ( mine just went on the bounce !)

 

[leovirgo]

It's nice buying whenever it hits 10990 area. The trend may be down but going long works for me many times.

I've been fooled going short just for one time at 10990, but later switched back to buy in. Nice bounce.. FTSE already showed how it can come back :cheesy:

17:41 edit: It's now back to 11060.. another crucial area for the next move.

 

[Pat494]

The Next Move

Great but what is the next move - you forgot to say ????????????

 

[mark twain uk]

pat,

the old avatar was nicer, but confusing, please do not change it just because I said so, the old one was great, please feel free to go back to it, I will not make any further comments

about the trend, I think we are in the process of making a top, it is increasingly choppy, which is a typical sign, I think we may see another push, how high it will go only time will tell

 

[rxis]

im getting killed

 

[leovirgo]

Great but what is the next move - you forgot to say ????????????

It is obvious now!

 

[mark twain uk]

rxis,

at all times your main concern has to be capital preservation, for this reason you must trade in small sizes with sensible stop losses, if you have an open position consider the worst case scenario, the market moving against you 300 points, and check that you have enough margin, if not, you are overtrading. We all did it and it hurts a lot when it goes against you. Many get wiped out never to return.

 

[FetteredChinos]

hit trendline and reversing..

down from here into the close methinks..

fc

 

[mark twain uk]

just went short again on both dow and sp, more downside than upside, will be quite happy to hold these over the weekend

 

[Gap Man]

just went short again on both dow and sp, more downside than upside, will be quite happy to hold these over the weekend

Reckon you might need deep pockets and a lot of patience - done nice myself - closed out 50% of longs but holding rest into close with stops well in profit at 11055.....next week I'm looking for 11250 min before considering joining the short side...

Have a good weekend all...

 

[mombasa]

Short again at an average of 11,069. I am in for the long term shorts but this channel looks like easy money. Had closed my shorts this morning at channel bottom, took a small long up but chicked out for 20 points. Will hold current shorts until 10,960 odd.

 

[mombasa]

Um, I wasn't quite expecting to hit 10,960 today ......

Good lord !!