Dow 2007

andycan said:
Stephen

any drops are corrective as it stands this is sucker plays by the pros, and there is plenty of blood for the taking
it wont turn one day and drop 2000 points its going to have a topping action most likely sideways with a few hundred points range for several weeks maybe months then all bears will get their wish
Click to expand...

Exactly, the distribution we are waiting for...
 
Speechless. Walk over to my quote screen 20 mins ago, ant its at 1334x !!! Who here is still holding a short from 200 points down? My indicators told me to sell at 13274, but I don't have the guts to pull the trigger on this. Looks like I'll be observing today.
 
lurkerlurker said:
Speechless. Walk over to my quote screen 20 mins ago, ant its at 1334x !!! Who here is still holding a short from 200 points down? My indicators told me to sell at 13274, but I don't have the guts to pull the trigger on this. Looks like I'll be observing today.
Click to expand...

I just took a long at 13275 futures price (I think that's around 13240 cash)
 
Looks like that trade is showing profit. I really can't get my head into trading this market.
 
I'm going to try and do this mechanically. I missed the first (profitable) entry signal -I will wait for another one.
 
Just noticed - you're short too! Well there was a 50 point correction earlier...

Ohh - this is painful - going up again - although on divergence between price and volume.
 
LL - I'm still holding a short from 200+ pts ago and feel so stupid, but bet I have company!! All my previous newbie profit wiped out in a few days, a good learning experience that is being driven home very well. Can't bring myself to close it, and even thought of shorting again soon but that would guarantee another 100+ pts rise from here. As someone once told me "the way to make money is watch a newbie trader, then do exactly the opposite."

Dinos' chart settings indicated a long around 14.45pm at 13250, I also need a good mechanical trading method and will give his system a go soon, didn't have the guts then.
 
lurkerlurker said:
Sold £3 @ 13259 to open·

I hope it doesn't close anywhere near that level.
Click to expand...

Lurker ... how many times have you shorted now this week. I'm not complaining, your my bread and butter ... but maybe you need to step back a bit, just a thought ... :)

or maybe like in Topgun your holding on too tight ..!
 
Sorry to hear that. Just make sure your stops are set that you won't lose more than you want to. Hope it comes back for you, but hope isn't a reason to stay in a trade. I'm a beginner also, and wish you every success.
 
Looks like that 13280 there was a lower high. CCI and RSI have just come out of overbought. Crossover on MACD also. Where is the lower low?
 
Lucky you firewalker - have a good weekend.

Kinger - I've shorted plenty this week, and most of those shorts were profitable.

Yes, there were a few losses, but I think there are long and short opportunities in intraday trading - although for the longer term, I think shorts would be a little risky.
 
29Investments said:
No one knows for sure where this is going
Click to expand...

but some have an idea !!
www.hsdent.com/ - good reading if you are a LONG term bull...

Tempting to short the markets (for a "short" term trade) but waiting for the short term blow off move for that..at some point we WILL get a correction of this move up from the March lows...but when?? Still feels like some more upside to the mkts yet...
 
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