Dow 2009

[francisfinley]

Stefan10, sullystocks,

Why are you trading against the trend?

The market is making higher highs and higher lows.

WORD!

 

[stefan10]

Stefan10, sullystocks,

Why are you trading against the trend?

The market is making higher highs and higher lows.

Im not againt the trend in thr day time trading just after, 9pm when the market closes i sometimes put in a short for a 40 point profit,

 

[stefan10]

im of the view wwe will go down to around 7800-8000 this month before we move to the 9000 mark, but thats just my view and im new to this unlike you guys who are more experienced

 

[Slapshot]

Im not againt the trend in thr day time trading just after, 9pm when the market closes i sometimes put in a short for a 40 point profit,

Personally I believe that to be a risky strategy for a relatively small return.

with overnight positions you leave yourself open to swings that could easily take your stop out.

For instance, the Dow futures at 2pm today were up 100 points on 9pm last night, assuming you're spreadbetting the SB companies will align the cash market (even though it's physically not open) accordingly.

Which comes down to risk/reward. The general rule of thumb is a 2/1 or 3/1 ratio.

So, yes today is down, but we're still in an uptrend and there will be cycles within that trend, my advice is not hold positions overnight for the size of target your talking about.

Good luck

 

[stefan10]

If the trade is not completed by 9am the following morning i just manually cancel it out myself

 

[SSINGH]

got a feeling dow will get jammed higher in the last hour.....

 

[KUTERO]

 

[madoff]

apart from the channel, what else is this chart showing with the RSI?

 

[vinicius]

Diverdence?

 

[stefan10]

i think the market will sell off come sunday-monday, as people might take profit, and nothing much to lookforard to in terms of news.. dow also stayed around the 8540 mark all day. im in for a short term short at 8551

 

[KUTERO]

apart from the channel, what else is this chart showing with the RSI?

Negative lack of harmony.
Between rsi (down) and price (up)..

İf rsi breaks the line, will be okey.

 

[stefan10]

i think the market will sell off come sunday-monday, as people might take profit, and nothing much to lookforard to in terms of news.. dow also stayed around the 8540 mark all day. im in for a short term short at 8551

sold fridays close position at 51+ points

 

[KUTERO]

30 minutes.

 

[hasanalali]

in weekly chart much clear to me :idea:

 

[hasanalali]

monthly dow 30

 

[hasanalali]

for the short terms

 

[KUTERO]

 

[allan greenspan]

Well done Kutero

 

[KUTERO]

watch the rsi..

 

[KUTERO]

Most probably becoming Shoulder-Head-Shoulder