Dow 2007

2468steve said:
volatile or what...!!
Click to expand...

Certainly was. Managed +46 in the end.

I think it's now going back down to 13500 which I think may just be the neckline for the H&S from yesterday evening and then suspect a bounce if the reversal holds.
 
Atilla said:
Certainly was. Managed +46 in the end.

I think it's now going back down to 13500 which I think may just be the neckline for the H&S from yesterday evening and then suspect a bounce if the reversal holds.
Click to expand...

well done m8.....so volatile I just put limit orders in and walked away...I couldn't of watched that......got a fill short @ 580 which coincided with SPX resistance at 1487
 
i'm up on cable, even tho i got in on it a bit too late. Sold it at 2.0286 at 0.50 lots, so i'm 177quid up on as i'm typing this. Just having a little dabble with forex, once i get a feel for the way the market moves i'll then increase my stake... I want to spread my trading across as many different markets as i can. You know how the saying goes ' don't keep all your eggs in one basket' ....
 
2468steve said:
well done m8.....so volatile I just put limit orders in and walked away...I couldn't of watched that......got a fill short @ 580 which coincided with SPX resistance at 1487
Click to expand...

Here is the same chart from yesterday.

I think this is in play but one thing I'm not sure about is the neck line is suppose to slope down in text book theory for a bear reversal and up for a top reversal down. :rolleyes:

I thik your target 13680 may well be the next.

Not certain but 60/40 says upside movement. If H&S does come about then this is likely to go all the way to 13800. :rolleyes:

Will remain flat until tomorrow evening.

I'm optimistic about cable long and suspect the Yen carry trades may need to be re-examinded and possible shorts on USDJPY may look tempting. :)

Hook Shot you looking at Oil? Everyone talking aobut driving season and demand for oil in the US and it tanks. :LOL: I thought it was excessive. But I think the Chineese and Indian markets now driving the price of oil not necessarilly US.

I've had an interesting long term thought cross my mind today wrt gold. With increasing incomes in China and India, if inflation ever rears it's head again, all that wealth and liquidity may well get spent on gold. This could be the next catalyst along with falling dollar for gold to start it's march again. I recognise jewelry sales of gold only accounts for a small movement in it's over all demand and price but it could set off the hype. Just a thought. :rolleyes:
 

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Atilla said:
Here is the same chart from yesterday.

I think this is in play but one thing I'm not sure about is the neck line is suppose to slope down in text book theory for a bear reversal and up for a top reversal down. :rolleyes:

I thik your target 13680 may well be the next.

Not certain but 60/40 says upside movement. If H&S does come about then this is likely to go all the way to 13800. :rolleyes:

Will remain flat until tomorrow evening.

I'm optimistic about cable long and suspect the Yen carry trades may need to be re-examinded and possible shorts on USDJPY may look tempting. :)

Hook Shot you looking at Oil? Everyone talking aobut driving season and demand for oil in the US and it tanks. :LOL: I thought it was excessive. But I think the Chineese and Indian markets now driving the price of oil not necessarilly US.

I've had an interesting long term thought cross my mind today wrt gold. With increasing incomes in China and India, if inflation ever rears it's head again, all that wealth and liquidity may well get spent on gold. This could be the next catalyst along with falling dollar for gold to start it's march again. I recognise jewelry sales of gold only accounts for a small movement in it's over all demand and price but it could set off the hype. Just a thought. :rolleyes:
Click to expand...
I'm looking at oil..... mais oui - as in may we what ?? Said the posh lady... :LOL: :LOL:
Sorry distracted - very surprised to see the lack of comment about the "mugging" of oil especially after I flagged it oh so well(imho)...............:cheesy:
As you mention it Atilla.... I'm clueless on oil now The Big Hi Prob trade is gone ..... If I trade it from here on in I'm just gambling ......using ma's/stochastics as a fig leaf... :cheesy:

To be honest indices are only midly interesting......... but we've got an up bar in US and lets see if we can post nunber #2 as that has not happened for a wee while... doing so will be a challenge since it requires +104 wed just to keep the "trend" going....!!!!

Loved the trade by agent 2468 - Bearish limit order at/near the 50% retracement
(580)... Great shot selection...........

What's more interesting than manic indices ??? Euro/$ this is competing for the prize of the next big trade as it meanders within sight of its highs.......... Swissie looks interesting too ......... but I've digressed enough... :cheesy:
 
I'm holding onto short @ 580 cash but have a couple of set ups in play here....the key will be the SPX getting above 1487...I went short coz that has been resistance on 27 and 31 July,and it was going into those levels on lighter volume,but if it does get above that it can run to 1526.....if that happens Dow will hit 13800.....

NDX also failed on price and volume to clear it's swing at 1969,going over it intraday and closing below on lighter volume than 2 August....this for me confirms being short until these levels on SPX and NDX are broken...all they need to do however is close above by as little as 1 pt to set up that run up

So back to Dow....remain short below 580...stop above 610...if 610 broken look to reverse long....support should come in tomorrow around 475 cash...

PS Cisco reported good numbers after the close which gave NDX a 14 point pop up at one stage...now up 10 which if held would take it above 1969 on 2rows open

Good luck
 
Unreal

You rarely get these moments in markets...... maybe
Dow needs to post over 100pts to stave off bears (although we might get an inside day) and now we have dow around 505 potentially leaving 100 pts on the table.. with a stp at 475 ... 4:1 for the bulls :cheesy:
 
made a right pigs ear of things today....thought I'd just use stops/limits and leave them in place,allowing me to spend some time doing other things....

Needless to say it all went tits up.....stopped out of last nights short @ 610...-30
reversed long @ 610 and subsequently stopped out on that too @ 570....-40....

I wont bother trying that again for a while....:eek:

Besides,nuclear physics is easier than trying to place all those stops/limits,buy/sells,OCO orders and still keep your sanity......:LOL:
 
You'll be alright mate.........Ftse is coming our way......... thurs or friday. This high velocity surge has to pause ........ probably between here 6390ish and 6450ish cash I'm putting program trade on to make sure I bag this one.... :LOL:
Ftse can run but it can't hide.......... it'll probably surge into Friday now but even faster NOT!
 
Utter Tosh!

So what happened to the 'debt crisis'? What a load of old rot from a bunch of crooks. It pays to ignore all the 'news' and trade the chart. The amount of money around is mind numbing- and perhaps 75% of it is genuine, but that doesn't matter- trade what you see, not the filthy lies trotted out by the media- markets run on money laundering and insider trading-how much more proof do we need?
I don't know why it annoys me- I make a living, I just see a great mass of ripped off investors and traders who shouldn't have to put up with this cr*p.
 
Windlesham1 said:
So what happened to the 'debt crisis'? What a load of old rot from a bunch of crooks. It pays to ignore all the 'news' and trade the chart. The amount of money around is mind numbing- and perhaps 75% of it is genuine, but that doesn't matter- trade what you see, not the filthy lies trotted out by the media- markets run on money laundering and insider trading-how much more proof do we need?
I don't know why it annoys me- I make a living, I just see a great mass of ripped off investors and traders who shouldn't have to put up with this cr*p.
Click to expand...

I've no idea, but it looks like the bull market is back. I just got long from 13699 and exited at 13730 (+31), right on target, so I'm fairly happy today.

Most "investors" are long anyway, so isn't it a good thing stocks aren't falling further?
 
Failing on the 2nd upbar ...oh heck!!

Lets see how we close but I'm already short and in prof to a degree so :LOL: :LOL:
Edit short at 13665
 
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