Dow 2008

[barjon]

What the hell was that all about yesterday?

All my earlier gains got totally wiped , then some, went into self destruct mode

I was pretty certain we were going to hit 11000, especially after the bill was passed.

Instead we made a new low, totally baffled to F**k.

Pretty sure this will be the low for some time now and expect a strong Bull rally Monday.

I`m sure there are plenty of people out there today licking there wounds

dans-ya,

Well, if you were a big money man and had been spooked by the "non-farm" numbers (much, much worse than expected) and you knew there was an army waiting to jump on board a widely expected "yes vote" rally later on in the day, what would you do.

good trading

jon

 

[Mr.J-Arthur]

Barjon-You got it man! The big money controls the market, and they LOVE to cut the little guys to shreds by selling off on a major opinion that the markets would rally! Blowing through a few big stop orders and the momentum builds and WHAM! Down 500 points!

It was over sold and it cannot remain oversold forever, so expect a bounce on Monday. I'm not saying we'll rally huge, but it won't be constant selling. The Bigs know the bulls/longs are very FEARFUL now, and when there's fear, there's money to make.

Chilltrader-You use that 200 SMA? It seems pretty consistant.

 

[bongofury]

there is no such thing as overbought or oversold. if it was oversold it would stop...it didnt stop

 

[Mr.J-Arthur]

Markets don't move in a straight line. So expect a pop, eventually. Monday or tuesday. It will need to pop back up to the 200 SMA and then show resistance again, in order to sell off.

 

[Phil Mibbutz]

It will need to pop back up to the 200 SMA and then show resistance again, in order to sell off.

Why?

 

[bongofury]

sorry mr j arthur, that is rubbish. the market doesnt NEED to do anything. you can work out probabilities and give yourself a better chance but that is all. when fear takes over support and resistance get blown away.

personally what i believe we are seeing is the beginning of capitulation in the markets and maybe on the street too. a bank run is poss despite guarantees. picking small bounces in a sell off like this is asking for trouble. the trend is down but i think we are perhaps nearing the bottom

 

[Pat494]

The threat of banks being nationalized is a very real possibility.
Commies like Jack Straw must be rubbing their hands in anticipation.

 

[team2005]

I do not know how to satisfy Dow but i think
9000-9500 points would have been enough to make Dow satisfied.

 

[bongofury]

anyone out there ? this thread seems to have gone very quiet !

 

[belgiumbrit]

I'm busy cleaning up my part digested lunch off the floor !!!!!!

 

[chilltrader]

I'm having fun

 

[Kondaliev]

anybody think to go for Barclays ?

 

[chilltrader]

anybody think to go for Barclays ?

yes load up on Barclays and LLoyds

On the +ve side.. if I go long 1 PP on DOW the max I can lose now is 9800 GBP :cheesy:

 

[Kondaliev]

i feel fear .........no emotions in this game mate...
.....no risk no profit

 

[Atilla]

Hi guys,

I'm back to claim back my pips from Friday.

Long @ 9803, SL @ 9750. I know risky long SL easy come easy go... :whistling

 

[Atilla]

yes load up on Barclays and LLoyds

On the +ve side.. if I go long 1 PP on DOW the max I can lose now is 9800 GBP :cheesy:

I'm like a hawk on the banks. Would very much like to jump on board but timing... :whistling


Barclays more so than Lloyds since they've made two big purchases.

If Barclays hits 280s again I'm in.

 

[KUTERO]

I hope, line 9707 will hold it.. :help:

 

[Kondaliev]

storng 9 700

......long 9 677 target 10 000

 

[Atilla]

storng 9 700

......long 9 677 target 10 000

Gosh... Another -50 loss. Went up to 850 but was having me dinner. Stopped out.

This must be heading to 8000s at this rate... Blimey. :-0

 

[Kondaliev]

**** 9 500