Dow 2006

frugi said:
Polls will begin closing at 6 p.m. (2300 GMT) but it could be hours before results are known.
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ok...looks like a mega gap-down OR mega gap-up on DOW tomorrow!
 
both dow and spx stayed withing a 30 points narrow band for the last two hours, usually you get a false breakout followed by a sharp move in the oposite direction
 
mark twain uk said:
both dow and spx stayed withing a 30 points narrow band for the last two hours, usually you get a false breakout followed by a sharp move in the oposite direction
Click to expand...


I hope you are right !!

Its already gone up a 1000 points since I first spotted - what looked to me - a "false breakout" ...
 
mark twain uk said:
nearly four hours of trading in the same 30 point range, it's like watching pixels dry
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All the traders in US have gone to cast their vote it seems... not much action...
 
PPT has set the supercomputer at Pentagon to keep the range between 12175 and 12195....
 
I've read quite a few different opinions over the last few days, some think that a Democrat win will result in a rally, others think that a Republican win will cause a rally, most of them talk about "the rally" as if it were a foregone conclusion, I think that the next move has already been decided by the "big boys" and they will just wait for the result of the election to get the next move started. The elections result will be just an excuse, but it will be interesting to read the "specialists" explaining to the plebs why the market reacted in the way it dit after the elections. Any respectable hack will have already written two opposite opinions, both of them clearly justified and explained. (edited: four actually, Dem/rally, Rep/Rally, Dem/fall, Rep/fall)

My hunch is that the market will head down, for the same reason highlighted by dc, the end of October was the deadline for many funds and the bonuses of their respective managers depended on that. It will now be a race to see which one blinks first, as soon as a fund starts selling too early, the others will follow suit, they need to get back some liquidity and move it into other asset classes, see the price of gold over the last few days.
 
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what the heck, I just added to my shorts at 12,180 and 1384.5 cash, maybe we see a last hour drop

edited: Nope, it's against the PPT constitution, closed for a little scalp, 10 points each
 
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Tokyo down overnight, futures down too, it looks more like a down day than a rally, but then again, everything is possible
 
US Democrats regain control of House of Rep after 12 years...

Wonder if that's excuse enough for the big boys to pull the plug!
 
short 208Dec fut (about 180 cash) looking to hold for a couple of days or 300 points :cheesy: :cheesy:
 
Nah just get bored these days waiting for entry and exits most of the time I'm setting audio warnings and surfing utube or ebay
 
cheers Hook
I wouldn't mind dropping another 25 points before the open though just for comfort :LOL:
 
Looks like a good trade dc. What target do you have in mind? I see a pullback to at least 12110
 
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