Dow 2007

[houdani]

looks like the proverbial bull washout to me,maybe a bit lower tonight in asia/early tomorrow then payback time for the bears.

 

[lurkerlurker]

we - the faders - are already heavily short from 247... no point in adding more to that

another +63 is good enough for me, closing out and done for the day.

Glad you stayed in MOC. A good trade indeed!

 

[firewalker99]

Glad you stayed in MOC. A good trade indeed!

Not too bad, but my short on the NQ was a lot smoother and faster on the way down.

 

[firewalker99]

As for live trading...

The timing of the posts should clear things up for the doubters. I could go back a couple of days and do exactly the same for each and every post I made. In the words of Kevin: "now be quiet".

See attached 1-minute DOW cash charts with official timing from IB:

entry
Today, 07:16 PM

short 13247 cash
...

first target
Today, 07:50 PM

...PS: I'll take +40 here, move my stop to BE and leave the rest on till EOD

exit
Today, 09:34 PM

...another +63 is good enough for me, closing out and done for the day.

 

[Atilla]

I do think DC and Firewalker have become the best of friends...


Why don't we simply state what we see in the charts and write up our actions in any way we want. If anybody wants an explanation we either give it or say sorry mate it's a classified system.

Whilst one gets a nice warm feeling for getting it right and head begins to swell, I normally feel sorry for the trader who gets it wrong. I'm sure we all do.

I really fail to see what the argument is about here. Sometimes I'm at a lost to figure out what the hecks the big deal.

I think we need a bit of HookShot or Jacintos cheek to break the ice here. Any smug volunteers ready to take these two heavy weights on...

Having said all that who thought my Sunday analysis - Daily and 4 hour charts were spot on? :cheesy: Yeah I know heads swelling... Almost even got the end of day price spot on at 13157 with Pivot point S2. Not bad eh?

 

[black bear]

Get my cloths on the washing line Quick then

looks like the proverbial bull washout to me,maybe a bit lower tonight in asia/early tomorrow then payback time for the bears.

Hi Houdani

I would agree confidently if I could understand my new volume fingy bob at the foot of my chart

Its hardly there, I have my glass"s on and I make it 2 mm is that good :?:
other ones looked much larger to me, perhaps all them Wall St traders P..ssed off early for Crimbo

Andy

 

[Phil Mibbutz]

I do think DC and Firewalker have become the best of friends...


Why don't we simply state what we see in the charts and write up our actions in any way we want. If anybody wants an explanation we either give it or say sorry mate it's a classified system.

Whilst one gets a nice warm feeling for getting it right and head begins to swell, I normally feel sorry for the trader who gets it wrong. I'm sure we all do.

I really fail to see what the argument is about here. Sometimes I'm at a lost to figure out what the hecks the big deal.

Agree with all that. No-one gets it right all the time. Let's trade the Dow here, not insults.

 

[firewalker99]

Agree with all that. No-one gets it right all the time. Let's trade the Dow here, not insults.

Exactly. You don't see me throwing insults and accusations around, when (or if) I get it a trade wrong. Let's hope my charts have cleared up any credibility issues and the muppets around here will start acting normal again.

 

[smbtnt]

Dirty Thirty

I had 4 trades on the dow today - 3 long and 1 short and came out net for a measly +12.

What I actually wanted to discuss or have somebody's opinion on was the price action on the futures.
It was very suggestive at some important junctures on the chart that we were going to rocket up and take out the day's high but it never happened. However more significantly the rhythm in selling seemed to be somewhat strained, even artificial at times.
You are probably thinking what's this loony going on about but I am not happy with the way we finished the day, something is lacking and I really can not put my finger on it. Maybe somebody out there can empathise with what I am suggesting but this paradox has left me totally flummoxed - any thoughts would be most welcome.
I think the bulls are not too far away and were genuinely very happy with today's proceedings even though we finished nearly 1.5% down on cash.

 

[firewalker99]

I had 4 trades on the dow today - 3 long and 1 short and came out net for a measly +12.

What I actually wanted to discuss or have somebody's opinion on was the price action on the futures.
It was very suggestive at some important junctures on the chart that we were going to rocket up and take out the day's high but it never happened. However more significantly the rhythm in selling seemed to be somewhat strained, even artificial at times.
You are probably thinking what's this loony going on about but I am not happy with the way we finished the day, something is lacking and I really can not put my finger on it. Maybe somebody out there can empathise with what I am suggesting but this paradox has left me totally flummoxed - any thoughts would be most welcome.
I think the bulls are not too far away and were genuinely very happy with today's proceedings even though we finished nearly 1.5% down on cash.

Excellent post. Coming close to an epiphany. Don't focus on the points you've made, more importantly is the understanding you gained or tried to gain. I'm glad there are still some people around who manage to look beyond the obvious. I'll respond to you by PM later on. For the time being think about for what reason price can drop and think about the reasons price can rise. You should've found an answer by the time I sent you a PM tomorrow.

 

[smbtnt]

incidentally, thanks for the 247 cash area
I had a strong hunch that taking the opposite of your trade would bring me money :cheesy:

trading is indeed a zero sum game

PS: I'll take +40 here, move my stop to BE and leave the rest on till EOD

If anyone had taken heed of my advice offered in post 7938 on this thread then maybe it may have turned out to be lucrative or maybe we would have understood how DC actually trades.

 

[Atilla]

I had 4 trades on the dow today - 3 long and 1 short and came out net for a measly +12.

What I actually wanted to discuss or have somebody's opinion on was the price action on the futures.
It was very suggestive at some important junctures on the chart that we were going to rocket up and take out the day's high but it never happened. However more significantly the rhythm in selling seemed to be somewhat strained, even artificial at times.
You are probably thinking what's this loony going on about but I am not happy with the way we finished the day, something is lacking and I really can not put my finger on it. Maybe somebody out there can empathise with what I am suggesting but this paradox has left me totally flummoxed - any thoughts would be most welcome.
I think the bulls are not too far away and were genuinely very happy with today's proceedings even though we finished nearly 1.5% down on cash.

People are worried about the future. I'm walking around the shops in Richmond and I certainly don't hear the tills ringing. I've even put off my expenditure waiting for the sales in January. Even then I ask my self do I really need this clutter in my house? :cheesy:

Fundamentals really bad. Growth prospects being scalled down. Subprime, banking, pension, housing, global warming, oil crises one after another are all with us. Who's going to worry about pension fund managers bonuses???

I can't see a bounce in all honesty... You are more likely to find the city of Atlantis at the bottom of the ocean than a bounce on the DOW imo. :idea:

I'm sure Firewalker will prove me wrong :cheesy:

 

[rathcoole_exile]

Sell Stop order in at 13248 (YM), waiting for trigger

 

[dc2000]

Exactly. You don't see me throwing insults and accusations around, when (or if) I get it a trade wrong. Let's hope my charts have cleared up any credibility issues and the muppets around here will start acting normal again.

charts are only charts nothing more, as for insults no but I do see you reveling when a trade went wrong not what I would noramally expect from T2W membership
If you want to prove that the way I trade is wrong then lets have all the trades not just a selected few you choose because they went wrong
yes I was long 47 and turned short as per my post @38 then long, short and a final long

Merry Christmas

 

[dc2000]

Hi Houdani

I would agree confidently if I could understand my new volume fingy bob at the foot of my chart

Its hardly there, I have my glass"s on and I make it 2 mm is that good :?:
other ones looked much larger to me, perhaps all them Wall St traders P..ssed off early for Crimbo

Andy

They have gone for Chrimbo which is a bad thing :?: markets can be moved outside the norm on low volume

 

[Crap Buddist]

you do like your shorts.....

People are worried about the future. I'm walking around the shops in Richmond and I certainly don't hear the tills ringing. I've even put off my expenditure waiting for the sales in January. Even then I ask my self do I really need this clutter in my house? :cheesy:

Fundamentals really bad. Growth prospects being scalled down. Subprime, banking, pension, housing, global warming, oil crises one after another are all with us. Who's going to worry about pension fund managers bonuses???

I can't see a bounce in all honesty... You are more likely to find the city of Atlantis at the bottom of the ocean than a bounce on the DOW imo. :idea:

I'm sure Firewalker will prove me wrong :cheesy:

I did hear a commentator on about bond yields 10 year I think easing and he put the dow circa 12200 next month or so based on bond pricing..... will it happen, gawd knows ..

jingle bells.

 

[dc2000]

People are worried about the future. I'm walking around the shops in Richmond and I certainly don't hear the tills ringing. I've even put off my expenditure waiting for the sales in January. Even then I ask my self do I really need this clutter in my house? :cheesy:

Fundamentals really bad. Growth prospects being scalled down. Subprime, banking, pension, housing, global warming, oil crises one after another are all with us. Who's going to worry about pension fund managers bonuses???

I can't see a bounce in all honesty... You are more likely to find the city of Atlantis at the bottom of the ocean than a bounce on the DOW imo. :idea:

I'm sure Firewalker will prove me wrong :cheesy:

True but will all this manifest itself now or in 1st quarter of 2008

Right now Im long and want to stay long any shorting of spikes today has profit taken quickly, in my book today and tomorrow have 620+ points to the upside from last nights close

If you want reasons market is widely expected to test 13000, merve King, low volume, santa

 

[timsk]

Head & Shoulders

Hi Everyone,
I don't subscribe to this thread (fool me, I know) but this H&S pattern in the making seems especially clear on the P&F chart which, incidentally, gave 2 double bottom sell signals yesterday - as can be seen on the attached 50 point, 3 box reversal chart. Apologies for butting in, but this may be of interest to the less experienced members who follow the thread. I'm certainly not wanting to teach you Vet's on here how to suck eggs, promise!
Tim.

 

[Atilla]

True but will all this manifest itself now or in 1st quarter of 2008

Right now Im long and want to stay long any shorting of spikes today has profit taken quickly, in my book today and tomorrow have 620+ points to the upside from last nights close

If you want reasons market is widely expected to test 13000, merve King, low volume, santa

I see what you mean and I can well believe it.

Unless price breaks above 13330ish levels I have it on a down trend.

Even if it is broken I think 13400 & 13500 would be very strong resistance levels. I think bears on the sidelines pining to move in for the picnic...

I'm flat at the moment. Looking for shorting opportunities. I'll have a go shorting around 13290 with SL for Santa's visit...

Good trading everyone.

 

[firewalker99]

yes I was long 47 and turned short as per my post @38 then long, short and a final long

you make twists and turns better than Michael Schumacher