FetteredChinos
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just about to open up a long now, looking for a bounce over the next 2 days..
roll on santa rally..
roll on santa rally..
FetteredChinos
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and here comes the end of day covering rally..
nice..
nice..
karmit said:problem is - trailing stops of small players doesn't matter in front of dumping by the really big ones :|
and today it does look like the big boys are upto mischief (again)...
Having said that, I do hope it doesn't fall that much today!... I'm looking to short again starting 12200
btw... I do wish to see 12360 again.
By trailing stops I only meant allowing the trade to breath - just in case there's more downside to go. I'd been waiting so long for this moment I thought it would be a shame to miss it by being too.....nervy!
I only want to see 12360 when I'm long.. :cheesy:
mark twain uk
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dc2000 said:
Do you see tomorrow as a day of rest before more downside or do you expect tomorrow to carry on as today?
Atilla
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andycan said:
25 & 50 day moving averages have provided good support for me and today the 25 day MA was broken significantly.
If the 12100 support level doesn't hold then I think the DOW will drop all the way down to the 12000 with little resistance. MACD, RSI & Stochastics all support this view.
I think we have some way to go. However, will pause and wait for the 12090 to be broken first before opening new short positions.
I would also guess there will be a dead cat bounce prior to the festive season but not what people have been writing about or expecting as I don't see the economic conditions supporting the move. A lot of hype and cash with no substance. M&A will not lift the doom and gloom in the market. The US retail figures support this view. Less people shopping but those who are have spent more. That doesn't bode well in my book.
The $ollars demise doesn't help the situ. If foreign banks don't support the $ we can give it a long kiss all the way to £1=$2 by March time.
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andycan
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let me clarifyAtilla said:25 & 50 day moving averages have provided good support for me and today the 25 day MA was broken significantly.
If the 12100 support level doesn't hold then I think the DOW will drop all the way down to the 12000 with little resistance. MACD, RSI & Stochastics all support this view.
I think we have some way to go. However, will pause and wait for the 12090 to be broken first before opening new short positions.
I would also guess there will be a dead cat bounce prior to the festive season but not what people have been writing about or expecting as I don't see the economic conditions supporting the move. A lot of hype and cash with no substance. M&A will not lift the doom and gloom in the market. The US retail figures support this view. Less people shopping but those who are have spent more. That doesn't bode well in my book.
The $ollars demise doesn't help the situ. If foreign banks don't support the $ we can give it a long kiss all the way to £1=$2 by March time.
a pop and drop is what i expect
meaning we could have a little move up and then a drop
this could happen in todays session or in a couple of days as the session goes by the chart reveals what it wants to do
im not disagreeing that more downside is required as im still short es from 1407.50 area
but from my perspective i look at geometric and wave structure and the move down to 1379/1380 cash basis would be the minimum require target from there it could bust through or bounce either way it's my road map my min target nothing more
the high on the 22nd i had pegged as a high quite a while a go which i posted in a fibonacci discussion
i also expected the es to go to 1455 area but that did not materialise but the timing none the less was the key factor
everything points to a good correction (i have posted charts)
with that said now it needs to prove its self
also my road map points to dollar index going to 81-82 whist the euro to 1.32/1.33 and then reversal
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mark twain uk
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dc2000 said:
Similar views here, only I see an up, down, up scenario, I have a cheeky long with a tight stop loss, I hope to cover it a bit higher then here and then short any rally that fizzles
mark twain uk
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dc2000 said:
You're too good for me, so I got stopped out and am now long again from 12090 and 1376 cash, with the tightest of stop losses. Funny psychology really, after being a bear for months and only selling the rallies, I now seem to develop a passion for buying the dips.
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FetteredChinos
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think this might be a fake dip.
gapping outside previous ranges is usually a good excuse to fade the moves!
gapping outside previous ranges is usually a good excuse to fade the moves!