Dow 2008

[mp6140]

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.

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

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

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.

FIRST, there was a reversal, or at least enough of "some kind of negative movement" to make profit off of, so call it what you shall, it happened !

the rest is happening as i forecast, and while the support and resist points might be overrun, i have given the alternative points also, which is pretty good for a normal human to do, being that the action happens over a multi day timespan !

but thank you for using the correct downside figure for the CORRECT DAY as you had not used it today, while telling the world i had said it would be a short --- we see tomorrow !

have a great evening fireguy --- you deserve it for all your hard work yelling at me today

LOL

mp

 

[firewalker99]

FIRST, there was a reversal, or at least enough of "some kind of negative movement" to make profit off of, so call it what you shall, it happened!

if +10 or +20 points is what you like to take of the table, when +130 is available
by all means

And since when does "a reversal" equate "some kind of negative movement"?!
By that definition there are reversals every couple of minutes, even seconds, try a tick chart, you'll see.

I repeat, there was, AND STILL IS - this morning - no reversal! Anyone want to believe otherwise, is kidding themselves.

The chart clearly shows price is even higher than where it closed last night.

 

[mp6140]

if +10 or +20 points is what you like to take of the table, when +130 is available
by all means

there was, AND STILL IS - this morning - no reversal! Anyone want to believe otherwise, is kidding themselves.

The chart clearly shows price is even higher than where it closed last night.

===============================================================

30 points is what the short was, and i will take 3 if thats what is offered, and as we can see, news is coming which causes the dow to react exactly as it did when first we started this silliness !

if you have read, i still hold a few longs, have averaged down that 30 pips and also hold a short waiting for the retrace off the news !

news is always a TEMPORARY change in trend, which normally comes right back to trend, and what i am imagining will happen this time also.

my scenerio does not change, only the timetable !

greetings fireguy --- good to see you so chipper in the am

ive got my trades placed and now i should have a nap for a while

mp

 

[Hook Shot]

my 2cents.........

we seem to have had a gentle conolidation last week after the surge to new swing highs. The pbk in spx terms was around 25% of the march bounce but i did see some calling it fibbo 23.6.... Either way pbk gentle.

Last week was an inside on weekly spx - so friday's low should go or lastweeks highs give way...
At the moment I favour more upside and an attempt to break last weeks highs 1421.57 (~18pts away).......... with new swing highs just over 19pts away..........

Looks like continuation of the upside is the "easier" move.......... a sharp move south would be nice but it would take a shock...... perhaps citigroup or 130+ oil ?? but I'm clutching

I think bears are redundant here ........... but monday was light vol..... today is 13th ! .... tuesday might be weak upbar.......... again clutching

if the slide into last friday is all the pbk we get - that's very, very BULLISH!

sO i'M LOOKING TO TRY AND BUY THE DIPS ............... but aware of the flipside.

 

[candles]

Well im still holding half of last nights short trade after closing out half for 29 points as posted.
I am looking for another move down today. We are currently trading at about where i believed the spx would struggle. stop remains in the same place.

 

[firewalker99]

Lol mp, if you keep on saying there was a reversal, while there clearly was NONE (see chart), you might start believing it yourself.

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[/B].

Can anyone show me how taking the short side yesterday was the best thing to do?

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

I predict three things to: price will go up today, or down, or stay sideways.

I have done what is really a hard thing to do ---

Really? There are hundreds of people who post S/R levels here each day. It's what you do with it that counts.

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

On the contrary mp, you did the easiest thing. You posted S/R figures and you did nothing with them. Except for giving comments in the likes of 'this may happen, but it could take longer than excepted', or 'it should reverse, but it might not as well' you've shown us nothing of your so called predictive abilities.

Yes, it clearly tests the line of your credibility. Which in the light of your recent posts, drops below zero.

 

[firewalker99]

30 points is what the short was, and i will take 3 if thats what is offered, and as we can see, news is coming which causes the dow to react exactly as it did when first we started this silliness !

...

if you have read, i still hold a few longs, have averaged down that 30 pips and also hold a short waiting for the retrace off the news !

So you'll take 3 measly points (which barely covers the spread & commission), but you'll use no stops and average down if you're wrong?

Now here's a fine way to make some money

 

[Hook Shot]

Well im still holding half of last nights short trade after closing out half for 29 points as posted.
I am looking for another move down today. We are currently trading at about where i believed the spx would struggle. stop remains in the same place.

As i try to get to grips with what might kill this early upmove i remember bob pisani(cnbc market wrap) MSNBC - Video Front Page remarking about the volume surge as market took out spx 1405, then spx 1400 during last week's fall ......
Here we are ....i'm aware of it but ..................

Naturally, people have to fit this in with their own timeframes and pip targets. I'm making a feeble attempt to think "strategy" humour me

 

[Phil Mibbutz]

=====================================================

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

Agree that it is difficult to post short-term trades, mp, but let's see a few more longer term entries and exits?

 

[barjon]

Lol mp, if you keep on saying there was a reversal, while there clearly was NONE (see chart), you might start believing it yourself.



Can anyone show me how taking the short side yesterday was the best thing to do?



I predict three things to: price will go up today, or down, or stay sideways.



Really? There are hundreds of people who post S/R levels here each day. It's what you do with it that counts.



On the contrary mp, you did the easiest thing. You posted S/R figures and you did nothing with them. Except for giving comments in the likes of 'this may happen, but it could take longer than excepted', or 'it should reverse, but it might not as well' you've shown us nothing of your so called predictive abilities.

Yes, it clearly tests the line of your credibility. Which in the light of your recent posts, drops below zero.

firewalker

Look, I've really had enough of this now. If you want to discuss and explore what mp6140 says then that's fine, but if you persist in selecting bits seemingly just to try and score points then it's not. So be warned.

good trading

jon

 

[Hook Shot]

Any Oil Traders Out There ?

lonely pit-bull seeks .......
OIL STILL WONT SELL OFF FOR AN EXTENDED PERIOD AND REMAINS V.INT
===============================================================

Has anyone noticed ndx camped @ 2000 mark .... top of 50pip range.. potential breakout ?? or back to bottom of range ? both tasty...

 

[firewalker99]

firewalker

Look, I've really had enough of this now. If you want to discuss and explore what mp6140 says then that's fine, but if you persist in selecting bits seemingly just to try and score points then it's not. So be warned.

good trading

jon

"Seemingly just to try and score points?"

The only "point" I'm out here to score and to show that mp6140's so called "predicting", is nothing more than the classical "I don't use stops, so I'm always" right approach. Next to that, he's changed his stand several times yesterday. Anyone can see that.

No problem, if you prefer the likes of mp6140 on this site, by all means.
But I certainly won't have someone accuse me of plagiarism. And if someone wants to discuss real trading with me, like mp6140 tried to do yesterday, than he either come up with some hard facts instead of claiming he was right when he called a reversal when price rose 150 points.

To be frank, I've had enough of this too. Whenever someone starts attacking the core, they are told to shut up. But when they people like Holy Grail spread "Armageddon" in an otherwise fine thread, moderators only take action after people complain. How ironic. No wonder nine stepped down.

I suggest you take back those words and publicly apologize or this be my final post on any public thread on trade2win. "So be warned." It won't be my loss, I can assure you.

 

[ian]

firewalker

Look, I've really had enough of this now. If you want to discuss and explore what mp6140 says then that's fine, but if you persist in selecting bits seemingly just to try and score points then it's not. So be warned.

good trading

jon

Thats a bit harsh!

 

[Hook Shot]

dow is now almost 70pts below yesterday's high based on ig quotes.... so to get another up bar from would be very tasty?

Yes we have a dip do I buy it against 800 ?? questions question....:cheesy:

 

[candles]

Well im still holding half of last nights short trade after closing out half for 29 points as posted.
I am looking for another move down today. We are currently trading at about where i believed the spx would struggle. stop remains in the same place.

closing the rest here for 45 points profit,

looks like i was right about "we are currently trading where i believe the spx would stuggle" this morning

 

[mp6140]

Agree that it is difficult to post short-term trades, mp, but let's see a few more longer term entries and exits?

====================================================

I SIMPLY LOVE YOUR CHOICE OF TYPESET PHIL !!

VERY attractive ---- BOLD, but with a childlike feel to it --- at once PLAYFUL and ARRESTING !

always look on the bright side of life

mp

 

[mp6140]

closing the rest here for 45 points profit,

looks like i was right about "we are currently trading where i believe the spx would stuggle" this morning

looks like an imitation of what they did last nite ---- to be honest, i couldnt believe they would pull the same "play" 2 nites in a row, and when the price didnt drop last nite, I went short again and hedged with a long.

I dont usually do that before news, but i was a touch busy all day with entertaining postings and plum tuckered out came the nite, and rather rattled by all, so i did the usual "oh what the heck !"

should be fun !

congrats on your trade even thought they interrupted it last nite ---- they were stalling, as we can see, but the reversal HAD to come and they were just faking us !

mp

mp

 

[Hook Shot]

As it happens ......

closing the rest here for 45 points profit,

looks like i was right about "we are currently trading where i believe the spx would stuggle" this morning

Well played C

Tradestalker.com had last S&p futures resistance pegged @ 1406.5/1407.5 going into Monday...as some devotees will know.
They had 1397ish-98ish as resistance yesterday - and I suppose it turned into sppt this morning......weird.

Any other traders follow tradestalker......... ?

 

[Hook Shot]

If the dow does not take out Monday's high (~904) it will look very odd because the other extreme (for the day) is down at ~740......... failure to tag one of these would mean insider which would seem as I said odd........ but not inconceivable. Dow currently 840 dn 30 odd......

We're still about 60 off monday's high

 

[Hook Shot]

weird what you pick up over the years.......

If the dow does not take out Monday's high (~904) it will look very odd because the other extreme (for the day) is down at ~740......... failure to tag one of these would mean insider which would seem as I said odd........ but not inconceivable. Dow currently 840 dn 30 odd......

We're still about 60 off monday's high