Dow 2008

[catracho]

Is FTSE the lead...or the laggard

Long term charts of DOW and DAX show we are at trendline support..but another week "hanging" at these levels may mean another stab lower...(as per FTSE) or has FTSE overdone it on downside (maybe some opportunity there in THAT case)...

All to be revealed soon:clap:

Japan doing its own thing in down trend channel since 1990..!

 

[firewalker99]

As for the previous post I meant to say usually the break of the range topside or downside indicate the next direction. I did not mean to imply a break of the price range made on any given Friday's would be indicative of the next direction...on a Monday.

We're all anxious to see a break of either direction. You're right obviously, it could spark something more serious

 

[senyorqueso]

There is the possibility we'll make a higher low from the 22nd of Jan and go back up to test 13000s again but I'm not holding out much chance of this given market sentiments. In fact the bigger H&S formation may well be in the developing as per the 3rd weekly chart. If the 12000 level fails to hold this could go all the way down to 10,000. I think it will but not sure about timing. Sometime this year... Perhaps when the elections are over in the US and the medication takes affect...

Good trading everyone...

Interesting stuff Atilla - FWIW I fancy a little poke below the jan lows, to around 11400, which should really scare the **** out of the masses and could provide fuel for a significant rally. Could be wishful thinking, but that double bottom formed over the last couple of days isn't too convincing, and a test of those jan lows seems likely.

Should be an interesting week.

 

[dc2000]

evening chaps
rearmed here and looking for the downside as per last weeks target not looking to hold any longer than 8pm tomorrow though

 

[firewalker99]

Another inside day then I guess... postponing the inevitable?

 

[Hook Shot]

Here Goes......

Looking at the daily closing chart of dow there's a big move coming....

I'm going for a "hump back" week ......up and then down ... upside is capped and "everyone" is looking for downside........

Yep upside in motion as dow hits 310 pre market..... we need more though

 

[firewalker99]

Looking at the daily closing chart of dow there's a big move coming....

I'm going for a "hump back" week ......up and then down ... upside is capped and "everyone" is looking for downside........

Yep upside in motion as dow hits 310 pre market..... we need more though

Agreed that somehow a move of a certain magnitude is to expected...

But as for upside being capped, it all depends if you consider this a higher low or not.

 

[Hook Shot]

Agreed that somehow a move of a certain magnitude is to expected...

But as for upside being capped, it all depends if you consider this a higher low or not.

It may be a higher low ....... but I don't see 12800 being beaten on close for the week :cheesy:

 

[Hook Shot]

Beware of this rally......

Buffett only wants the municipal/local authority bonds

The sub prime stuff is still untouchable........

Edit: stoch on 15min were already over 80 (last night) .......... if that means anything......

 

[Hook Shot]

Anyone for Walmart ?

Came witnin $1 of 52H today and I bit it's hand off ............

We'll see if it has the last laugh ........

 

[catracho]

looks like Buffet got the bears scared...let's see how far it can go...DOW still needs to clear 12800 for mid term change in trend..imho

irolleyes:

 

[Hook Shot]

Like I said Beware of this ..........

Buffett only wants the municipal/local authority bonds

The sub prime stuff is still untouchable........

Edit: stoch on 15min were already over 80 (last night) .......... if that means anything......

:clap:

 

[Atilla]

Hi guys,

I think if this move breaks out of the daily downtrend resistance line at around 12500 it may well try and take out 12800 too.

Also, we could be having a mini reversal to the upside with an ultimate target of 13250-ish. All this sounds like my write up from two weeks ago and perhaps it will materialise albeit a little off with the timing.

I'll be very surprised if we breach the old weekly support line which I'd expect now has become the resistance. Strong resistance at that imo.

So I'd have 12500 and then 12800 as targets for now unless the MA turns down again.

Given my poor performance on DOW last week I thought I take a brake. Went short on Gold instead. I know it's wrong thread but gold is setup for a big drop imo.

 

[Hook Shot]

Great Times Ahead.....!

This is not (imho) the start of a new bull leg........

Shorts have got to be careful to trade well........ but the macro backdrop is in their favour....... I can't believe that Walmart is so strong .given credit crisis.... doesn't compute but will continue to add logs on the fire........[ Don't try this at home... ]

 

[Pat494]

. Went short on Gold instead. I know it's wrong thread but gold is setup for a big drop imo.

Um well don't want to posit-ivly say I think you may be wrong AT BUT the expert on Bloomers this morning was very bullish gold and platinum !? Perhaps you will prove him wrong

:whistling

 

[Atilla]

Um well don't want to posit-ivly say I think you may be wrong AT BUT the expert on Bloomers this morning was very bullish gold and platinum !? Perhaps you will prove him wrong

:whistling

Just checked Gold price is hovering around 900 so since last night it's dropped another 9$. As long as the markets are rising - as they seem to be, I'd guess gold is likely to come off the highs.

I think the 40 number is always a strugle with Gold. Having touched 940 it's come off. I reckon 880 as a primary target.

As for DOW I'm not sure but MAs looking to turn well up and so I'd be weary of going short. I would still love it to go up to 12800 or 13000s as then shorts will be much keener to take on the bulls. I shall be hoping to join in that fray...

 

[Asylum]

Gold is a safe haven at the moment with investors flocking as the $ weakens against major currencies, as long as the feds keep cutting rates and weakening the $ gold will be bullish, the proplem with platinum is that South Africa supplies 80% of all plat and plat was already in high demand with suplly not being able to meet demand, and now plat mines in south Africa are only getting 90% of power generation on their plants due to power constraints set by Eskom (SA Power suppliers) so plat supply is heading for a huge shortfall and plat prices are reaching for the sky, just look at the prices of shares of the plat miners in SA all of them are breaking record highs.

apology if this is not the right thread for this topic.

 

[Atilla]

This is not (imho) the start of a new bull leg........

Shorts have got to be careful to trade well........ but the macro backdrop is in their favour....... I can't believe that Walmart is so strong .given credit crisis.... doesn't compute but will continue to add logs on the fire........[ Don't try this at home... ]

Crystal ball says 12626 is ahead. That's R2 on the way to 12800...

Just added this shocking chart (my crystal ball) - it shows 12626, which I think is only a matter of time and 12800 will be the real test.

 

[firewalker99]

This is not (imho) the start of a new bull leg........

Shorts have got to be careful to trade well........ but the macro backdrop is in their favour....... I can't believe that Walmart is so strong .given credit crisis.... doesn't compute but will continue to add logs on the fire........[ Don't try this at home... ]

I'm sure those logs will come good eventually... but could take a while.

I just closed out my longs from today. But on medium-term there's still room to the upside.

11500 sure a long long way from here

 

[Hook Shot]

Good Point Fire

Shorts have to manage their positions well as said earlier...

As far as 11500 is a long way............ remember late Feb 2007 ??
=================================================================

I see this as just noise smoke and mirrors to fool the innocent (which could include me)....

Microsoft's bid for Yahoo - market spike
Buffett''s potential "rescue" of the bond insurers - market rally

Retail sales stronger than expected is (imho ) the latest ruse......!!

Just the Elite taking the p**s out of the prol's

The Economist/CB's/G7/Soros/Rogers......strategic players and they say down .....so shorts have to manage their positions well ...and dare I say it .....become tactical longs sometimes

Great times ahead........
Ps Atilla ....626 may well be ahead.......but as you say 800 is the biggie near term.
Short term bullish but running out of steam ...mid term OMG!!!

Once again the credit crunch is just starting for business and consumer ....(so I read) so with Wmt in a lofty position it's attractive.....remember Wmt in 1000pt trading range ........ Wmt closes around 5066