Dow 2008

[roussell]

how many other's are thinking unfookinbelievable!?
Surely this is lining up for the mother of all falls???

Anything less than 100bps will cause a big drop imo.

 

[firewalker99]

how many other's are thinking unfookinbelievable!?
Surely this is lining up for the mother of all falls???

more than 500 points higher than yesterday's low
and it still shows no signs of cracking...

 

[firewalker99]

13000 coming in the near future! it's byebye bears for a while according to the chart...

 

[bottomleyp]

Daily Dow

Sell @ 12311 Daily Dow, seems to be struggling to break resistance at 12324.
Expect some profit taking, see where it goes

 

[firewalker99]

Sell @ 12311 Daily Dow, seems to be struggling to break resistance at 12324.
Expect some profit taking, see where it goes

only up my friend, only up

See chart: W-bottom on preliminary support from the selling climax in January
but volume was less and the trend down has struggled
can't see how this is going to reverse in the next couple of days or weeks

 

[Devilicus]

Lets try a little short here at 12382.

60 pip stop.

 

[Phil Mibbutz]

Lets try a little short here at 12382.

60 pip stop.

Think I'll join you if/when it reaches 400.

 

[theroguetrader]

the upside penetration around 12340 has happened - so it should head towards 12450/500
its a bit early yet tho i think because the 20 day MA is flat (as opposed to pointing up - or at least curving) and the 40 day MA is still curving downwards a bit - id be a " bit " cautious and wait -

Last BIG trade on the DJI was (2-21 JAN) - 1640 points short -

 

[firewalker99]

Think I'll join you if/when it reaches 400.

I have 12402 as the high, so you shorted?

 

[firewalker99]

the upside penetration around 12340 has happened - so it should head towards 12450/500

To be honest I can't see much in the way till 12600-12700. (I don't mean by tomorrow eh)

 

[theroguetrader]

To be honest I can't see much in the way till 12600-12700. (I don't mean by tomorrow eh)

being too cautious is a problem i know -

 

[Phil Mibbutz]

I have 12402 as the high, so you shorted?

Yep.






(Although if it flies up to 12500 first thing tomorrow I'll deny all knowledge of it over at the Live Trading thread, of course!)

 

[Hook Shot]

One for posterity...........

More waffle - the spx is more interesting than the dow cos we have an extreme position in that we got NEW LOWS.....

If this new low is a fake out low (marginal) we could rally hard the next few days..... 1300/1320+ ?
4Me it all depends on how the spx closes. If well above 1285 on close would be interesting.......

I'm not getting into that one about is THIS the low ........ I've proved that's not my area of expertise

The party poopers tried to kill the rally at the bell Monday ....... but we sailed on regardless
:cheesy:


Bill McLaren has been talking about the poss of a fake out low for weeks..... as one of his scenarios....

http://www.mclarenreport.com.au
see Free CNBC Report for the cheap skates like me....
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Something interesting is happening to financials.... yep they went up today Durr! But several have now made island reversals of their 52wlows........... Merills, Lehmans, Morgan stanley, Goldmans, Aig... Fannie Mae.

I'm gonna stick my neck out and say that Lehman's may have made a SIGNIFICANT low since it has practically doubled since Monday's panic!

Flip side - Blackstone (BX) made all time lows monday and made a grudging upbar Tuesday - considering the bullishness in the rest of the financials this stood out ...............

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Lastly...... you wish !

I commented that Nikkei had hit 62% pullback of the 2003/2007 bull phase........ and sppt is working.

I also commented that the spike low in S&p futs sunday night........ would probably hold in regular sesh.......... it not only held but heralded close to 80pt move in futs... (~800 in dow terms).

Gotta know when to bow out as I said last night.........


If you keep guessing at this game you'll be right once or twice ...............

 

[Devilicus]

Lets try a little short here at 12382.

Closing half of this trade here for 62 points profit.

Other half still running with stop at B/E

 

[Hook Shot]

I always thought that the dow needed to post at least second upbar over 390ish (VISA ipo- soon) so was puzzled when dax was weak........ but now it looks like we may get that dow test of highs (or breach) and my faith in dax is being rewarded........ so far !!

Dow test of 390-400 should put dax back at 6400 at least - but I'm in profit with stop so not really that ****

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The again it might just form inside day which would be odd........... I think

 

[Hook Shot]

He shoots ...he scores

I always thought that the dow needed to post at least second upbar over 390ish (VISA ipo- soon) so was puzzled when dax was weak........ but now it looks like we may get that dow test of highs (or breach) and my faith in dax is being rewarded........ so far !!

Dow test of 390-400 should put dax back at 6400 at least - but I'm in profit with stop so not really that ****

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The again it might just form inside day which would be odd........... I think

.......... not the most difficult call in world all things considered... but at the time (dow 12290ish) it was hard to believe 4 some (perhaps)

 

[keano]

Closing half of this trade here for 62 points profit.

Other half still running with stop at B/E

WTG. You keep chalking 'em up.

 

[Hook Shot]

Lehman Bros

Hook Shot puts Lehman on the wanted list.... as in short candidate....... something suspicious ... price was around $45.

Lehman has a stack of commercial real estate loans and property might be the next shoe to drop as they say.

$50 is now key rez on weekly chart

CFO Errin Callan ...might have one "r" sounded a note of caution on conference call this week - little noted for obvious reasons. ....... something about challenges will not end anytime soon but we have the blah blah to cope.. or words to that effect...

Update - Capital One tried to scale $55 and is having trouble........

UPDATE 2: lehman slid to under $44 I covered but was probably too hasty....... shame it's not traded around the clock I could have let it run ............ with a bit of luck we will get a bounce to try again ... we'll see.

 

[catracho]

testing old resistance level...short term..

chart attached..

 

[Hook Shot]

Cheers Cat

chart attached..

We need a rally so I can wade into Lehmans again........ only probperly this time.
Lehmans went $47 down to $43 already.... after bouncing off $20 earlier this week