Dow 2008

[mp6140]

This style of trading is not new. In fact, it's popular with some folks who trade other peoples' money. 99.9% of the time you will win. 0.1% of the time you will go broke (or worse). Rinse and repeat. It's a style that appeals more to the ego than the wallet in the long run.
jj

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HEY MAGIC -- how ya doin ?

and for fireguy ---- YOU

Are you're saying you don't predict, but you act on what you see instead?
Because if you are, that sounds a lot of plagiarism

Trading in real time is not about theory, it is about acting on what you see, not what "should" or "could" or "may" happen.

"so be it"?! but if we followed you're advice, we'd be short, so when do we close out? wait until it goes above 13000 or just wait and see till tomorrow?

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NOW WAIT A MINUTE HERE --- we both agreed at a bottom last nite. today, wanting to run the price up (as is happening) they dropped the price below support to get it down (which is normal also)BUT ONLY BY A RELATIVELY SMALL AMOUNT OF PIPS !

YOU STATED THAT IF IT DROPPED BELOW SUPPORT, TO "LOOK OUT BELOW" WHICH translates into a large short position --- I DID NOT state that it would be a short, but THAT IT WOULD GO UP TODAY and tuesday, reach resistance and then drop, and i gave support and resistance figures to watch for

NOW, SINCE THE POSTS STILL EXIST, the world can see that youve BENT what i said to something i NEVER SAID -- i predicted LONG, with a reverse by tuesday, and you stated that if it dropped BELOW 12740 to LOOK OUT BELOW

with obvious proof that YOU stated it would be a short if support were broken, and I STATING that it would be a long to the top of the LRC (which can be broken on strength), DO NOT TELL THE WORLD I CALLED A SHORT, WHEN I CALLED A LONG !

THERE IS NO FIGHT HERE --- MY POST SITS FOR ANY TO VIEW, AS DOES YOURS ----STOP lying about what i said, putting words into my posts, and leave me alone and WATCH TO SEE WHAT HAPPENS !

then you may kiss the ring !!!!!!!!

stick with the truth please

mp

 

[firewalker99]

NOW WAIT A MINUTE HERE --- we both agreed at a bottom last nite. today, wanting to run the price up (as is happening) they dropped the price below support to get it down (which is normal also)BUT ONLY BY A RELATIVELY SMALL AMOUNT OF PIPS !

Are you inventing things again? I said a drop below 12700 signaled trouble. Unless you are using other charts, I have the low of the day at 12738 and even on Friday it clearly stayed about 12700. Price did not drop below support as far as I can see it.

YOU STATED THAT IF IT DROPPED BELOW SUPPORT, TO "LOOK OUT BELOW" WHICH translates into a large short position --- I DID NOT state that it would be a short, but THAT IT WOULD GO UP TODAY and tuesday, reach resistance and then drop, and i gave support and resistance figures to watch for

Yes you gave me these numbers: "12795.14 - 12800"
"12690 and 12647" and "Breakdown of 12647 brings forth the 12423 support level !"

I fail to see how any of those numbers came into play today.

THERE IS NO FIGHT HERE --- MY POST SITS FOR ANY TO VIEW, AS DOES YOURS ----STOP lying about what i said, putting words into my posts, and leave me alone and WATCH TO SEE WHAT HAPPENS !
mp

Someone has a short term memory problem I think. Let me point it out to you again:

intraday i could have predicted even more easily --- just go to the high and low of the LRC and give you those figures, which appear to be working.

You said this at the time price went lower, but then we ran up to 12800, which basically invalidated the statement. If intraday predictions are so easy, why don't make some right now? Tell us about the close.

my "predictions" will take more than a few days (maybe by the end of this week) to happen if they should happen.

If your predictions or for the end of the week, than why not make predictions about today first? Here's another one for you: I predict the DOW will go to 18000 between now and 7 years. Watch, be patient! Use no stops, it will get there, sooner or later!

 

[firewalker99]

fireguy, we call em differently, but when the dust clears is when you count em, not before --- intraday picked up strength, but we know that never lasts long,

So far we are up +100 points... *cough* for something that never lasts long, it sure makes a lot of points on the way up.

so resistance figures "could" certainly change as we go, but we also know that what goes up, must come down, and i would move a bit over before you get hit by falling prices, imho !

This was posted when the DOW hit 12800. We are now at 12840.
Why fight the trend? Like I said one hour ago:

There is no reason to exit the trade, although taking some off can be validated given that we are at resistance, but so far the demand line is still steadily up, and we've yet to see a retracement of some kind, let alone a lower high.

12845 now.

 

[mp6140]

MP -- ITS NOW NOON EDT and where is the price going

as stated, the NOON reversal here in the states --- now we see if it actually holds or if momentum will be strong enough to head back long very soon -- im not really watching, just glancing, but so far everything ive stated has happened.

i can do no more than rest my case !

mp

 

[firewalker99]

as stated, the NOON reversal here in the states --- now we see if it actually holds or if momentum will be strong enough to head back long very soon -- im not really watching, just glancing, but so far everything ive stated has happened.

Tomorrow price will go lower or higher.
Wait and see. Everything I predict will happen. Just be patient.

"I rest my case!" *cough*

 

[mp6140]

So far we are up +100 points... *cough* for something that never lasts long, it sure makes a lot of points on the way up.

This was posted when the DOW hit 12800. We are now at 12840.
Why fight the trend? Like I said one hour ago:

12845 now.

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fireguy --- your post and my post exist for everyone to read

YOU stated that if the dow fell below support today to LOOK OUT BELOW --- that translates into SHORT to me

my post said we get a bounce to the upside today, that lasts to tuesday -- THAT SAYS LONG TO ME and if i said it goes to tuesday, that is CERTAINLY not a small move, as i gave resistance figures higher than where we are now !

its a long, WITH A REVERSAL AT THIS MOMENT --- it will still continue up, and its anyones choice to either get out, play the retrace and then re-enter for the next upside move (normally at rollover times, but could be 1`:30 because of momentum !

I DO NOT TELL ANYONE HOW TO TRADE, although im out the long for the short and will go back to the long as needed !

WHEN fireguy, will you admit i know what im doing --- ive even given you the live calls you so desired, and youre now putting EACH AND EVERYTHING DOWN, changing my words and disagreeing all over the place, and yet, EVERYTHING IVE SAID IS COMING TRUE --- lets wait to tomorrow to see if it reverses also !

im sorry fireguy, even if im not interested in the DOW, im VERY COMPETENT AT WHAT I DO, although youve lost me a lot of money today, because of this constant posting !

NOW SIT BACK, ride along with the moves and tell me a few days down the road how wrong i am, since im pretty RIGHT for today !

mp

 

[firewalker99]

fireguy --- your post and my post exist for everyone to read

YOU stated that if the dow fell below support today to LOOK OUT BELOW --- that translates into SHORT to me

That is correct. If price fell below 12700 I would have initiated a short. Now tell me, on what planet did that happen?

 

[firewalker99]

im sorry fireguy, even if im not interested in the DOW, im VERY COMPETENT AT WHAT I DO, although youve lost me a lot of money today, because of this constant posting !

Unless you're scalping, trading is more doing nothing than anything. The responsibility of losing money lies within the trader, not some one or some thing else.

For example, I said where I was short from, I posted the reversal signal including explanation (12740) and I said there was (and still is) no reason to exit your longs.

So, two trades maximum.

Anyway, this is lunchtime trading, probably sideways and a retracement lower till later on. Unfortunately I have other things to attend to this evening, so I won't be able to watch, but if I were, I'd leave a part of my position open with a stop below 810 in case we go back below resistance, and a potential target of 12870.

 

[mp6140]

Mp -- See, I Can Apologize When Wrong !

That is correct. If price fell below 12700 I would have initiated a short. Now tell me, on what planet did that happen?

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YOURE ABSOLUTELY CORRECT ON THAT --- since we both said the same thing, why are you giving me grief all day long ?

price appears to be close to my first resistance area -- we see how things go !

mp

 

[mp6140]

Unless you're scalping, trading is more doing nothing than anything. The responsibility of losing money lies within the trader, not some one or some thing else.

For example, I said where I was short from, I posted the reversal signal including explanation (12740) and I said there was (and still is) no reason to exit your longs.

So, two trades maximum.

Anyway, this is lunchtime trading, probably sideways and a retracement lower till later on. Unfortunately I have other things to attend to this evening, so I won't be able to watch, but if I were, I'd leave a part of my position open with a stop below 810 in case we go back below resistance, and a potential target of 12870.

pretty good fireguy

12860.70 / 12887/12924/12968 present resistance, and i would certainly agree with your target figure

mp

 

[mp6140]

think this might be considered more than "moving sideways" during lunch, more like a reversal but that would be an echo i imagine

nice

mp

 

[candles]

12879 - taking a short here.

stop at 12915

 

[candles]

12879 - taking a short here.

stop at 12915

Taking half off here at 12850 for 29 points.

 

[Atilla]

12879 - taking a short here.

stop at 12915

Best post of the day...

Let the trades speak for them selves.

This market is so resilliant it is absolutely bewildering. Fundamentals say put your pension on a short.

Technicals have plenty more steam before they blow a gasket.

I'm short too looking for a quick scalp.

 

[mp6140]

Best post of the day...

Let the trades speak for them selves.

I'm short too looking for a quick scalp.

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not for nothing, but is this the reversal that fireguy said wouldnt happen ?

oh well, i went short also --- youse guys got my attention ! thnx

lol

mp

 

[Phil Mibbutz]

mp61etc: instead of playing cyberspace ping-pong all day, why don't you join 'Fireguy's' Dow thread and post some live trades?

 

[firewalker99]

...Unfortunately I have other things to attend to this evening, so I won't be able to watch, but if I were, I'd leave a part of my position open with a stop below 810 in case we go back below resistance, and a potential target of 12870.

Just back home from a few drinks. I'm happy to see the DOW closed at 12868, 2 points off my projected target which was quite easily triggered considering price went as high as 12898.

pretty good fireguy
12860.70 / 12887/12924/12968 present resistance, and i would certainly agree with your target figure

I was going to say, I'm glad you agreed, but then I read what you posted afterwards:

think this might be considered more than "moving sideways" during lunch, more like a reversal but that would be an echo i imagine

"more like a reversal"? You've got to be kidding me. Your predictions turn around every 30 minutes.

not for nothing, but is this the reversal that fireguy said wouldnt happen ?

oh well, i went short also --- youse guys got my attention ! thnx

Indeed, I said there would NOT be a reversal and there was NONE.

I'm glad you've shown us you're trade positions mp. There clearly was no reversal at all, except for the one at 12740 (long signal) which I pointed out, at the time it happened. I mentioned several times there was no short signal and indeed there was none for the rest of the day.

Now, I'm truly very excited to see how your prediction about 12690 tomorrow is going to pan out. Really.

 

[firewalker99]

Best post of the day...

lol Atilla, still going counter-trend are we? (no disrespect to candles, there was potential for a short, but no more than a scalp)

Let the trades speak for them selves.

Good idea. I think my long from 12740 turned out pretty well in that context. Especially since I wasn't around to monitor my trade and set my target before the market hit it almost one and a half hours later, taking 130 points home on a single trade.

mp61etc: instead of playing cyberspace ping-pong all day, why don't you join 'Fireguy's' Dow thread and post some live trades?

He'd be more than welcome to

 

[Atilla]

lol Atilla, still going counter-trend are we? (no disrespect to candles, there was potential for a short, but no more than a scalp)



Good idea. I think my long from 12740 turned out pretty well in that context. Especially since I wasn't around to monitor my trade and set my target before the market hit it almost one and a half hours later, taking 130 points home on a single trade.



He'd be more than welcome to

Trailing stop got hit. +5. Was +21 at one point, but went to read a bed time story and came back and there you go. Better than a poke in the eye.

I agree with the reversal and the change in the market to the long side. I'm reluctant to go long as I feel we can slide any time.

Well done on your long entry.

 

[mp6140]

MP -- LAST word on the DOW for today, ok ?

mp61etc: instead of playing cyberspace ping-pong all day, why don't you join 'Fireguy's' Dow thread and post some live trades?

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hey phil

i did that last night, and while the DOW is doing what i said it would do, fireguy has been insulting me all day long, and yet the index does what we BOTH said it would do. While i set a tp point yesterday, the momentum on the move has been stronger than when, in the luxury of my "man cave", relaxing with beluga, spirits and my pipe, i placed my original resistance and tp point, although i did add additional points ABOVE the original (if momentum proved to be strong) which the DOW appears to be hitting.

SO all in all, my call last nite, for the DOWS moves today, appear to have been correct. What remains now is to see if my downside reversal points are hit as i forecasted ---- please to remember that i said the DOW would go UP, and then it would come down probably on TUESDAY, and to lower than was support and the starting point today ! THIS part of what i said, and which is still posted and timestamped, remains for us to see come true or provide a liberal dose of egg on my face --- we shall see !

so your question has been well answered, and while i continuously flip on the shorter timeframes, there would be no time to enter, exit and post that im doing that over a 5 pip move !


long before NOON, EDT here in the states, i posted LIVE that we should reverse price direction at NOON, or if momentum was high, at 1:30 PM, EDT --- THIS HAPPENED AS I FORECAST IT TO, RESULTING IN A DECENT SHORT that produced decent pippage. (the "general" rule is the index will reverse NORMALLY at noon, and continue in that direction to the "rollover" at 5 PM EDT) at which time it normally resumes what was its original direction prior to the noon reversal ---- i do not normally play the DOW, but the above is very true for forex, which usually moves off of the DOWs moves during the day.

so to answer your question, I FORECAST THREE DIFFERENT SITUATIONS --- the OVERALL move of the DOW for a few days, the RALLY (along with fireguy) this morning, and the FIRST reversal at the end of day for the london exchange !

having been successful in all but the first (which needs at least another day to play out) i believe i have more than tried, on an index i never played before, and have been awfully right for something i dont know ---- tomorrow and the rest of the week shall tell if my LONGER range concept comes true or not !

I have done what is really a hard thing to do --- posted a couple of days moves on the DOW, complete with support and resistance figures --- its there for all to see and it pretty much tests ones ability far more than one single move on the 15 minute chart --- it encompasses a LOT of moves, over multiple days, and really tests and puts on the line my credibility --- TAKE A LOOK AND SEE HOW I DO !

theres just not anything more i can do to oblige your request --- ive done it in triplicate and its all there for everyone to see and comment on as they wish !

enjoy and trade well

mp