Dow 2007

2468steve said:
blimey....that was death by a 1000 cuts tonight...hit my target....closed at 485 for +117....reversed short now for tomorrow...
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Death by a thousand cuts indeed. I had a few +30 winners, but closed the day up +10. Not nice. Reading firewalkers post above, and wondering why I ever went back to trading without the benefit of a volume chart...

Quick straw poll - who doesn't have volume on their charts? That will be all the spreadbetters, but how many of them run a separate live feed with volume? I used to, but don't any more.
 
nother view

will this one get bottom or even a new/further acceleration donwwards?
 

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I got in quick for a +37 point short on NFP. I have done some FTSE trading this morning also in quite small size. I've had 1 losing day this week (Wednesday), and have worked very hard, so I think I will take the rest of the day off.

Have a good weekend all.

Cheers

Lurker

* - of course, the Dow will move 300 points down and then 300 points up, and I'll feel bad about missing pips, but.......
 
Hook Shot said:
Nice Going Agent 2468
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Thnx ....although Dow reached my target SPX fell a bit short of it's target....so may see some further strength until that is met......I'm holding off all longs here though,and will only sell this market into next week...:LOL:
 
I think I'll keep going. Just taken 40 points off the FTSE, and missed the latter half of the fall. Silly me! What is happening over on Wall Street? The NFP wasn't that bad, surely? Long covering into the close? I might stick around and trade this.

I've lost count of my FTSE and YM pips today, but the number appears to be well over 100.

Good trading all!
 
Just hit the wires... "Bear Stearns credit rating drop from S&P".....may explain some of the drop....:rolleyes:
 
Thanks for that post Steve. Very informative. HS, I can't actually believe that Goldman bonds are almost rated Junk! Shocked. Bear Sterns was having a few problems for awhile, but who would have believed The Firm could **** up on this scale!

I've been happily short most of the day - short the Dow on NFP, short the FTSE for most of the drop. Made lots of pips, and am now pretty close to breakeven. I have been trading since last December and have only recently started to make steady profits.

Have a great weekend folk!
 
Hook Shot said:
Yep Steve you probably know Wall St have been confessing for months but who listens ?
This one is from 5m ago.... WALL ST JUNK!!!!!!

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=azrxhCZbHMLk
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HS,
they're all thieves together playing musical chairs.....the music is about to stop and there ain't enough chairs to park their fat butts on...these players know this too and are playing chicken with each other.....If I had my way I'd turn the music off now and repossess all the chairs....sod em..:LOL:
 
What I want in the second half .....

I want a rally one that rips out 13500 sorry for the other bears but ........ I suspect more stuff will come out over the weekend about hedgies/banks etc with problems (thanks Steve) so I want to be well short going into Monday (at a decent price) :cheesy:

May not get what I want but that's what I really really want... a rally into the bell would be nice but wouldn't say no to a top around 8pm near 13550+ ... as if...
 
2468steve said:
HS,
they're all thieves together playing musical chairs.....the music is about to stop and there ain't enough chairs to park their fat butts on...these players know this too and are playing chicken with each other.....If I had my way I'd turn the music off now and repossess all the chairs....sod em..:LOL:
Click to expand...

U crack me up 2468 really do ....... :LOL: :LOL: :LOL:
 
2468

Steve, I agree with you, if you look at my charts (posts 5620 & 22), I'll be looking to sell the the highs. Well done on the overnighter, I went last night and this morning, both came up trumps. No positions at the minute
 
Hook Shot said:
I want a rally one that rips out 13500 sorry for the other bears but ........ I suspect more stuff will come out over the weekend about hedgies/banks etc with problems (thanks Steve) so I want to be well short going into Monday (at a decent price) :cheesy:

May not get what I want but that's what I really really want... a rally into the bell would be nice but wouldn't say no to a top around 8pm near 13550+ ... as if...
Click to expand...

If we see 550 again, that is a sign of strength not weakness. We have lower lows and lower highs here, and that is quite bearish. If we were to see the market at pre NFP levels again today, I'd be cautious about weekend shorts. Again, strength above 250 futures. I'd happily short a break of that, but I'm not really in the market at the moment, and looking forward to getting the weekend off.
 
This help your thought process lurker?

ym daily: some support around the 38.2 level, though there was a spike nearly down to 50
 

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