Dow 2007

Bearish setup continues on my charts on most timeframes, still holding my short positions open and intend to carry overnight with limit orders locking in good profit.

Currently up +63 (1st Trade) and +39 (2nd Trade)

Happy days
 
Dinos said:
Bearish setup continues on my charts on most timeframes, still holding my short positions open and intend to carry overnight with limit orders locking in good profit.

Currently up +63 (1st Trade) and +39 (2nd Trade)

Happy days
Click to expand...

Nice ones!!
Agree with the bearish setup now... I'm looking at ER2 too and it looks like a we might have made the top there! Also the small caps didn't make new highs while DOW went steaming ahead.
 
Thanks firewalker, holding shorts now, limit order in. Off for a well earned beer now!!
 
well looks like a pretty good day all round then well done. i'm still holding short and have stop now in at b/e. i am trading may fut through s/b targeting a move to 13040 then 13000.
my only problem with this trade is that my entry was a bit early on friday and had to sit out the highs of yesterday. now wondering can i hold to my original targets?

all the best trading today guys.
 
Brutus dog, do you mind if I ask how you determined your entry position, you say you went in early, I normally enter late due to my set up, delaying my entry allows for "traders remorse" and the trend to be confirmed.
 
I exited my short at 13,121 for a 10 pip profit from Friday.

I am looking to get back short again this afternoon at a better level and again with a stop above yesterday's highs.

Stephen McCreedy
 
Hi Stephen, my limit was hit, so out for a handsome profit. Flat at the minute, will not take a trade until the market open, no views on long or short, I'll wait until I can see a trade on my charts.
 
hi dinos,

i took the position on a longer term basis, ie not intaday as i normally would. i based it on the fact that the index has risen 11 out of the past 12 days, and looking overbought and imho needing a breather before either steadily rising again or a pop and drop situation. intra day am using pivot points and a m/a crossover in the 1 min and 5 min charts. i have also started using intra day fixed odds for short term trading.
will also have a look at your m/a crossover as its slightly different time frame to mine.
bd.
 
Hi Brutusdog,

Thanks for reply, interesting to see how we all do it, I suppose if there was a god given rule, we'd all be very wealthy by now. My mistakes of the past was entering and exiting positions early, I now enter later and said before and it has proved much morre profitable, takes away a lot of the stress.

Good luck
 
Just wanted to chip in here - it's official .....the Dow is now GETTING ON MY TITS!

Short from 13102 Friday....(don't ask!).

My mistake has often been to exit too early, so when it closed at 13062 last night I though to myself "Nah, don't close...let it roll, see what develops in Asia overnight & see if 13050 can be broken"

Well Asia duly played the game.

But the Dow...up again up UP UP this morning! (pretty much back to my bad entry point)

I'm gonna start trading the S&P cos time after time is the Dow getting skew'ed by a couple of constituents going ballistic (they're out to get me I tell ya'...they're all plotting amongst one another to take it turns to go ballistic - aka a relay race - just to hold the Dow up).

S&P fell 0.78%

Hang Seng 1.01% (overnight)

What did the Dow give back yesterday? ....a scabby 0.44% after a 100 day run of a few gazillion percent.

Bollox - thank you for your time.
 
hobby said:
Just wanted to chip in here - it's official .....the Dow is now GETTING ON MY TITS!

Short from 13102 Friday....(don't ask!).

My mistake has often been to exit too early, so when it closed at 13062 last night I though to myself "Nah, don't close...let it roll, see what develops in Asia overnight & see if 13050 can be broken"

Well Asia duly played the game.

But the Dow...up again up UP UP this morning! (pretty much back to my bad entry point)

I'm gonna start trading the S&P cos time after time is the Dow getting skew'ed by a couple of constituents going ballistic (they're out to get me I tell ya'...they're all plotting amongst one another to take it turns to go ballistic - aka a relay race - just to hold the Dow up).

S&P fell 0.78%

Hang Seng 1.01% (overnight)

What did the Dow give back yesterday? ....a scabby 0.44% after a 100 day run of a few gazillion percent.

Bollox - thank you for your time.
Click to expand...

Yep - couldnt agree more.

Dont these people realise that their whole existence is propped up by unsustainable debt, that their housing market (which had been propping them) is now bust, that they are paying Billions of Dollars to fight a war in nearly every country in the known world, that they have a social security system which is about to go bust and that their stock market is about as overbought as anything can possibly get. Do they not remember 2000 when the NAz went from 5000 to 1000 and was limit down every day for months !!!!

Do they really think it can keep going.

US - You are going DOOOOWWWWNNNNNN !!!!!!!!!!!!!


By The Way

Yes I have been short for ages
No I am not a happy camper
Yes I have been to the pub
 
Those last two posts were the funniest I've read in ages.....brought a smile to my face...
Nice one..:LOL: :LOL: :LOL:
 
29Investments said:
Yep - couldnt agree more.

Dont these people realise that their whole existence is propped up by unsustainable debt, that their housing market (which had been propping them) is now bust, that they are paying Billions of Dollars to fight a war in nearly every country in the known world, that they have a social security system which is about to go bust and that their stock market is about as overbought as anything can possibly get. Do they not remember 2000 when the NAz went from 5000 to 1000 and was limit down every day for months !!!!

Do they really think it can keep going.

US - You are going DOOOOWWWWNNNNNN !!!!!!!!!!!!!


By The Way

Yes I have been short for ages
No I am not a happy camper
Yes I have been to the pub
Click to expand...


I think we are going to see a rise in SPX to around 1490s before another big fall down. Thats a 50% fib retrace from yesterdays bottom.

I think the DOW will inevitably follow along with Nasdaq.

I'll reckon we'll see 1475 on SPX and a fall to 13060 on the DOW before another rescue attempt at the markets that will pull SPX and NDQ up again.

I'm expecting the major shake down on Wednesday.
 
Atilla, why do you think wednesday for a down day, data?

Hobby, your still in profit man!
 
Dinos said:
Hobby, your still in profit man!
Click to expand...

Barely...I've watched my overnight 40 point profit dissapate to be just a few points. Was that it? 19 out of 21 winning days...something like 800 points to the upside....58 point retracement?! Also, I just know the Dow will be strong out the blocks, so in essence I'm putting this one as a loss right now.

My only hope is sh1te figures at 3.00pm else it'll be 'game on' resume the uptrend. Even if the figures are sh1te, chances are they'll see/spin them as good anyway!

Ma heed's polluted ...I need a spell away methinks.
 
keep an eye on 1480 SPX.This is uptrend line from march lows...break this convincingly next stop 1461....
Russell 2000 broke uptrend last night
 
Don't worry I think we'll get a little lower if only initially this morning.

I think the reason the Dow doesn't play ball especially during the reporting season is due to the way it is calculated with higher priced shares carrying more of a weighting.

This means one set of good figures from a stock trading at $100 a share can outweight a broader market decline and keep the Dow flat or only mildly down.

I think if you want to get more serious trading the dow using charts of Dow constituents is going to be helpful too.

I reentered my short at 13,128 after covering it this morning at 13,121.

I have to say it's more speculative than anything, there is little conviction to fall at the moment.

Stephen McCreedy
 
Chin up Hobby, if its of any benefit, I'm short from from yesterday x 2 trades, (13150 & 13133), I too watched them go down to the 60's last night and kept then open and then back up in pre trading today, why? because my charts (60, 30,15,10,5 min) are becoming more bullish by the day, each one the price of the index is trading below the 8 day ema,which is my target (buy/sell) indicator. I will close my positions when this is reversed, overall today I'm looking for further declines. I could be wrong, hoping for a pop and drop fwiw
 
& while I'm venting...what is it with Oil of late not mattering one iota as far as stock markets are concerned?

Only a few weeks ago when it pushed up through $60 a barrel, the stock markets took a dump. Now here we are at $65 & the market has chosen to ignore it (I thought the market was worried about inflation & the consumer?)...hurricane & driving season almost upon us - talk of the Yanks wanting out of Iraq soon (with likely ensuing mayhem ...which will not help oil one little bit).

This is all bad enough but when you read for example MSN Money's market commentary, (when oil goes up) we get comments such as "rising oil given the energy sector a boost which has led other stocks up", however when oil goes down we see "shares are getting a boost from declining oil price"

...they want their cake & eat it! B@st@rd0s.
 
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