dc2000,
is this because you expect a big down day on friday. i expect a low this week as my weekly charts are give buy signs the same as when we had the 2001, 2002 and 2003 lows. i have also read article's regarding turn dates on the 24/25 of Jan.
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dc2000,
is this because you expect a big down day on friday. i expect a low this week as my weekly charts are give buy signs the same as when we had the 2001, 2002 and 2003 lows. i have also read article's regarding turn dates on the 24/25 of Jan.
Sorry to be ignorant but what happens on Thursday?
bottomleyp
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dow suuport levels
Hi guys
Can someone tell tell me where the likely support levels are.
May consider taking a gamble on the Long side, if the support levls are not
to far away. Reason being we have had a few large down days, always
some recovery and also maybe the Fed may cut rates tomorrow if
it thinks the market is going to tank alot further from here.
Remember the US elections are not too far away and the DOW always does
the unexpected !
Hi guys
Can someone tell tell me where the likely support levels are.
May consider taking a gamble on the Long side, if the support levls are not
to far away. Reason being we have had a few large down days, always
some recovery and also maybe the Fed may cut rates tomorrow if
it thinks the market is going to tank alot further from here.
Remember the US elections are not too far away and the DOW always does
the unexpected !
Vaco
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You hit the nail on the head when you called it a gamble, why try to catch a bottom, doing so through this month would have been very costly. why not wait for a recovery then go short on the next move down. currently weve broken through all recent support levels and must wait for the current downtrend to turn into a range for support/ressistance trades
There are a few very large margin calls out there and the recipients are forced sellers. Remember the saying ...Selling begets selling. Lower markets and more margin calls and further selling; it all becomes a vicious circle.
bottomleyp
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firewalker99
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Silversea
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Last edited:
dc2000
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its not Thursday that I expect something to happen, what I do expect is that traders will start to position themselves ahead of Wednesdays FOMC, they will want to be market neutral by Wednesday, will 50 basis points be enough to stem the flow??
Silversea
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firewalker99
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Long 1256.50
So how do the thousand cuts feel by now?
S&P, Nasdaq and Russell in limit down mode, trading halted.
DOW currently quoted at 11450... about 700 points lower than Friday's close.
Atilla
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So how do the thousand cuts feel by now?
S&P, Nasdaq and Russell in limit down mode, trading halted.
DOW currently quoted at 11450... about 700 points lower than Friday's close.
Well I thought it might touch 11500 but didn't make a pip out of it as I was out of DOW yesterday. However, the ferocity of this market is something else.
I don't know what's going to happen when US opens. I have a hunch we might have a strong bounce but that's all it is and not worth punt. More of a curious guess than anything of substance. I suppose given the speed of things final resting place could well be 10,000 but that is stretching the imagination without some pull back.
My golden rule to follow - like driving a car is to make sure I am on the correct side of my moving averages!
Good trading everyone.
dc2000
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just about to pull +200 off the FTSE fut @58( filled as I type)the rest left on to 725 with 100 point running stop
and just to please my detractors I am using stops today 100 point on FTSE and 300 point on DOW although still not much use if the market blows through them
and just to please my detractors I am using stops today 100 point on FTSE and 300 point on DOW although still not much use if the market blows through them
firewalker99
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Doubt that... I have 11456 on the futures but the offset to the cash isn't that big.
See also Live Book
dc2000
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thats me done for today
My thoughts are still the same as yesterday there will be bounces durring the week up to Thursday but take reasonable profits the markets will do 3 steps forward 2 steps back
figs to be aware of today are 5725 March FTSE and 11842 Dow cash
Good trading all and remember "better to be out wishing you were in than in wishing you were out" There will still be a market when all this is done with
My thoughts are still the same as yesterday there will be bounces durring the week up to Thursday but take reasonable profits the markets will do 3 steps forward 2 steps back
figs to be aware of today are 5725 March FTSE and 11842 Dow cash
Good trading all and remember "better to be out wishing you were in than in wishing you were out" There will still be a market when all this is done with
firewalker99
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maybe i didn't see 11200 & sthg cash dow........ but i remember you mentioning 11450ish...earlier then the dive and my ig screen was showing way below 11400.... guess I'll never know now......... until this afternoon...
cheers fw
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