Dow 2008

[breadman]

11100 sell
that's the quickest 110 points I have ever made I think.

 

[dans_ya_man]

Nice one breadman, you beat me by 10 points, not a bad couple of minutes work I say

 

[breadman]

i am looking for a bottom this week maybe today, the bulls are trying to get back above 11080 which is a important area. I will be buying if we go lower for a swing trade to be held for a good few weeks.

 

[breadman]

Nice one breadman, you beat me by 10 points, not a bad couple of minutes work I say

well done dans ya man, if only it was that easy every day.

 

[firewalker99]

Exact entry was 1210. Half taken at 1237 which was first resistance and also happened to be the high of the day (almost) lol.

Stop on remaining half at 1201 which was where it was when I originally entered.

Well done, 1237 was the place to be indeed. Textbook short there... but didn't you advocate holding on to that long?

Hi FW,
see you lurking there - hows things ?

Much better than in August when volume was at a 5-year low, thx!

 

[dans_ya_man]

i am looking for a bottom this week maybe today, the bulls are trying to get back above 11080 which is a important area. I will be buying if we go lower for a swing trade to be held for a good few weeks.

hhhmmm..... Im not too sure which way to go from here, part of me feels that the July lows of 10800 will be tested before we go up again

 

[breadman]

hhhmmm..... Im not too sure which way to go from here, part of me feels that the July lows of 10800 will be tested before we go up again

maybe, 10800 is my next target then 10690. wide stops or very good timing is needed.
we have closed at the 16th of July low which was a higher low after the 15th of July low of the year.

 

[trader_dante]

Well done, 1237 was the place to be indeed. Textbook short there... but didn't you advocate holding on to that long?

Yes and hold on I did. I think with trades like that you have to give the market a chance. It was a great level and it could have gone far.

 

[Zig Zag]

There goes the Merchant Marine...

Sold my Puts at Dow 11,030. They Doubled in value since Friday.

Taking a side by standing aside during the Fed announcement.

Expect to jump back in with Aug Index Puts on an upward volatility spike after the Fed announcement.

Wave analysis at all degrees pointing down. Bullish % trending down. Put/Call ratio climbing but not peaking. Gann Lines still steep. Credit markets collapsing. Deflationary spiral ahead. Everything is losing value. Dow 9,900 might find brief support.

There won't be another happy Christmas rally. "This time its different." History repeats until it doesn't. Down periscope. Dive. Dive. Dive.

Z.Z.

 

[stocktrader77]

could be nearing a short-term bottom, although there are similar technical & fundamental similarities between now and oct87, time will tell.....

 

[Atilla]

could be nearing a short-term bottom, although there are similar technical & fundamental similarities between now and oct87, time will tell.....

6% fall in Asian markets. Not a good sign.

I wouldn't like to call bottom in this market. Go with the trend. We have clear direction now. We may have a bounce but trend is down.

I reckon a rate cutis on the cards.

I have my pivot point targets as

R2 @ 11832
R1 @ 11549
PP @ 11290
S1 @ 11007
S2 @ 10748

I reckon 10500 is a real possibility with bottoms maybe around 10,000.

 

[Phil Mibbutz]

6% fall in Asian markets. Not a good sign.

I wouldn't like to call bottom in this market. Go with the trend. We have clear direction now. We may have a bounce but trend is down.

I reckon a rate cutis on the cards.
I reckon 10500 is a real possibility with bottoms maybe around 10,000.

Are there any good signs?

Agree about the 10,000, but whatever the Fed does (or doesn't!), there will probably be some serious spikiness today.

 

[Pat494]

The mortgage brokers who sold all those DUD mortgages should be fined heavily for lack of care and attention imho

 

[Atilla]

Are there any good signs?

Agree about the 10,000, but whatever the Fed does (or doesn't!), there will probably be some serious spikiness today.

Here is H&S. Usually, neckline to head distance normally gets to play out below neckline. Shown in purple lines.

Classic H&S.

Furthermore very good S&R going back to 2004-06.

Hence, at the moment it's in no mans land.

Also there is the S&R lines heading down and perhaps now we may get 12500 by the end of the year once this storm dies down.

Just my 2p worth... :whistling

 

[Atilla]

The mortgage brokers who sold all those DUD mortgages should be fined heavily for lack of care and attention imho

Borrowers should be fined too for biting off more than they can chew.

This debt crises has been with us for good many years now.

Greed and wanting what you don't need is quite an obsession with some people...

 

[Pat494]

Thought of investing my " hard earned " in British art but got outbid for " pickled shark in brown liquid" at 7 million quid !
To be fair I suppose the glass tank was worth more than my 50 pence I was prepared to bid
LOL

 

[tantra]

Anyone here still think this market is gonna hit 12500 by xmas??

 

[firewalker99]

Anyone here still think this market is gonna hit 12500 by xmas??

Why not try to trade the NOW instead of think about what will happen in a couple of months time?

 

[breadman]

buy 10748

 

[Pat494]

The next and bigger part of the financial crisis is already upon us in the form of AIG going belly up. Looks like the US has shot themselves ( and us ) in the foot yet again. Are they trying to commit suicide or what ?
Hang on to your cash ????????????