Dow 2006

[Racer]

I have no idea what that means. I used to try and decipher all that, now I just try and follow the market - it knows best

Still looking for a short entry. tempted to go in now but might as well wait.

I wouldn't say the market 'knows' best but I agree you have to trade the market and not what you think it should do based on the news.
I think it amusing to read the different spin the media puts on things especially oil.. that is hilarious.. it can be the reason the market goes up or goes down according to the media when commenting on different days. It is fun reading the different words they come out with to explain it

 

[leovirgo]

You may well be right Leo but I rather fancy a bit of a down trend setting in.

I am out of the market now Pat. Closed my yesterdays' long. Rejection from 11034, or 11060 or TA weakness around those areas will give me a short entry.

 

[mombasa]

Short from 11.020 now for a slightly smaller stake than last time. Will build up the stake on averaging down as this thing goes against me

 

[solentsurfer]

I have no idea what that means. I used to try and decipher all that, now I just try and follow the market - it knows best

Still looking for a short entry. tempted to go in now but might as well wait.

I think the answer is that it means one of two things - depending on which way the market goes.

 

[solentsurfer]

Maybe we're on the way to fill yesterdays little gap, if only we can get through 11050

 

[mombasa]

Added to short at 11,045 on divergence on 5 min.

Anybody reckon that the pesky 11,050 support is now a lovely 11,050 resistance?

Time will tell.

 

[solentsurfer]

When you say divergence are you talking MA's or Stochs/RSI (or some other) Thanks

 

[mombasa]

When you say divergence are you talking MA's or Stochs/RSI (or some other) Thanks

Was talking about RSI on 5 min but its not looking very convincing. However, I entered short again based on that and potential 11,050 resistance - which doesn't look good either right now.

 

[leovirgo]

Futures looking bright. See if it can penetrate above 11060 today. If it does, recovery to 11100/30 area should be swift.

Still, it looks fine for a few more days as long as 10990 is not violated again. I expect tomorrow and Friday are for the bulls. :cheesy: :cheesy:

Already back to 11060 area

 

[solentsurfer]

Was talking about RSI on 5 min but its not looking very convincing. However, I entered short again based on that and potential 11,050 resistance - which doesn't look good either right now.

A lot of support/resistance around 11075 too, if it gets through that it really could keep going a while yet.

 

[mombasa]

Added to shorts at 11,057. That's me maxed out.. Stops at 111,49 but I'll prob move those up if we still keep on rising 'cos I'm in it for the long play.

 

[solentsurfer]

I got those 20 pt channelin' blues again...

Make that 5pts :cheesy:

 

[leovirgo]

Don't worry it might take a breather. I don't want to see a very strong closing. A bit of break will be good. But I say tomorrow and friday are for the bulls as long as 10990 isn't violated again.

 

[dc2000]

still waiting and waiting

a good 100 point drop would be cool

 

[Morris]

Looks to me as though the bears have been led up the garden path.

 

[solentsurfer]

Looks to me as though the bears have been led up the garden path.

..and no porridge .... for the time being. Not much guts around the current area - I'm sure the bulls would have been happier with more confidence back towards 11100

 

[Pat494]

You may well be right Leo but I rather fancy a bit of a down trend setting in.

Quiet today !
A bit of a pull back yesterday before the DOWN trend continues a while imHo

 

[kriesau]

still waiting and waiting

a good 100 point drop would be cool

Have you closed your 11060 long or are you looking for support at 10990 to hold and a subsequent bounce !

 

[dc2000]

I still have it but expect to exit later today as I dont want to hold over weekend

and before anyone says it I know its only Thursday, Im having a day off tomorrow

 

[rxis]

short 11149...still holding