catracho
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Triangle formation getting tighter, I think we will have a break of it today being a Friday and my bias is on the south side
looks like it has - just need some follow through NOW! below 12228
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looks like it has - just need some follow through NOW! below 12228
dans_ya_man
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Yep looking good, definate break out of the triangle, next line of resistance being the 12070/12000 zone.
If that breaks then this could be the big move down we have all been waiting for
If that breaks then this could be the big move down we have all been waiting for
dans_ya_man
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Yep looking good, definate break out of the triangle, next line of resistance being the 12070/12000 zone.
If that breaks then this could be the big move down we have all been waiting for
Sorry, was meant to say support of course
I was short at 12-340, but closed at 12 -320. Had to go out! and the rest is history, it is down at 12 175, as I type. Grrrrrrrrrrr!
I am thinking of setting a forum for peeps that trade only the Dow, and of course who want to discuss Tecnical Analysis.
Been looking around for a while on the net, and there doesn't appear to be anything that is dedicated to just the Dow. Here is a bit sketchey, some times there is a lot of input, and then other times there is nothing. It can be a lonely vigil, day trading, and on the premise, that a few heads are better than one, maybe collectively we can avoid the mistakes and make some profit.
Anyone interested?? (Hope Admin don't mind me popping this question.)
I am thinking of setting a forum for peeps that trade only the Dow, and of course who want to discuss Tecnical Analysis.
Been looking around for a while on the net, and there doesn't appear to be anything that is dedicated to just the Dow. Here is a bit sketchey, some times there is a lot of input, and then other times there is nothing. It can be a lonely vigil, day trading, and on the premise, that a few heads are better than one, maybe collectively we can avoid the mistakes and make some profit.
Anyone interested?? (Hope Admin don't mind me popping this question.)
Phil Mibbutz
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brutusdog
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contact firewalker99 via pm, he is the man to ask!
This must be a Bear's worst nightmare - Concerted action by politicians, central bankers and their lackies. How else does one describe the fact that the proposed bail out of AMBAC (supposedly due to be announced on Monday or Tuesday) was leaked and the truce in a major legal battle between a few of the Telcos were announced when the markets were in a tailspin and with only 30 minutes to go before the close?
firewalker99
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Friday evening, everybody assumes markets will drift. Pro's gone home, markets sideways in 25-point range and then all of a sudden this... well you can call me paranoid, but I don't know this is one hell of a rally for a Friday in the closing minutes
Thankfully, I had just closed a short, was convinced we were going down from 12 200, bailed out at 12 169 and left the room for about 3 mins, returned, and I could not believe my screen it jumped 100 points plus. Heard the news on the Bloomberg termimal, and thought 12 300 would see the day out. Left the office, came back in again after the market had shut, and knock me down with a feather, another 100 points. Looks like the index is heading back for the top of triangle!!
counter_violent
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The moral of this story then...don't take your eye off the ball ! Even at 8.30 pm on a Friday.
:clap:
:clap:
r u one of those guys who builds his ego by finding peoples mistakes to point out,making them wrong makes u rite, how original, about as refreshing as dead fish on a riverbank, thnx for the input
I'm cautious this week......
A year ago Greenie said it's possible the us might fall into recession by the end of the year...... next day the markets listed and spx down 50 on close and Dow closed down over 400.
------------------------------------------------------------------------------------------------------
This time last monday in Feb he says growth is "zero" ...........but we're all pumped up for the Ambac "rescue" Dow 12420 or so....... Nikkei posts the first day of a potential break out.... and the highest since the sell off around a month ago.......... everythings rosy........
I'm cautiious this week.............
I could be adding one and one and getting eleven but time will tell
A year ago Greenie said it's possible the us might fall into recession by the end of the year...... next day the markets listed and spx down 50 on close and Dow closed down over 400.------------------------------------------------------------------------------------------------------
This time last monday in Feb he says growth is "zero" ...........but we're all pumped up for the Ambac "rescue" Dow 12420 or so....... Nikkei posts the first day of a potential break out.... and the highest since the sell off around a month ago.......... everythings rosy........
I'm cautiious this week.............
I could be adding one and one and getting eleven but time will tell
firewalker99
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Why don't you enlighten us by your superior views of the market instead?
catracho
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4 what it's worth ....
..... I'd be looking for fund management companies which are relatively high based on the range of the last 12m.... I've found one and looking for more......
A big fund manager who I've come to respect said on the box that there maybe toxic waste on the books of insurance companies and pension funds that have yet to be declared.....
..... I'd be looking for fund management companies which are relatively high based on the range of the last 12m.... I've found one and looking for more......
A big fund manager who I've come to respect said on the box that there maybe toxic waste on the books of insurance companies and pension funds that have yet to be declared.....
Atilla
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Hi everyone,
I think we have made a second higher low. The build up is very tentative and perhaps may take a little longer but I'm still holding out hope that 12800 and possibly 13000s will be touched again.
I don't think they will hold. We will attempt to rise and break away but only to fall down much further and harder imo. The sell and go away in May, come back and play another day springs to mind.
Here is the same weekly charts and the daily for my perspective.
Targets - 12705 and then 12800 in short term.
Long term - 11500 for starters with expectations of 10500...
Life is very busy at the mo and I'm unable to post as before but keep up good posts guys. I can't go to sleep without first poping in here to check developments.
Good trading everyone... :clover:
I think we have made a second higher low. The build up is very tentative and perhaps may take a little longer but I'm still holding out hope that 12800 and possibly 13000s will be touched again.
I don't think they will hold. We will attempt to rise and break away but only to fall down much further and harder imo. The sell and go away in May, come back and play another day springs to mind.
Here is the same weekly charts and the daily for my perspective.
Targets - 12705 and then 12800 in short term.
Long term - 11500 for starters with expectations of 10500...
Life is very busy at the mo and I'm unable to post as before but keep up good posts guys. I can't go to sleep without first poping in here to check developments.
Good trading everyone... :clover:
Attachments
Hi everyone,
I think we have made a second higher low. The build up is very tentative and perhaps may take a little longer but I'm still holding out hope that 12800 and possibly 13000s will be touched again.
I don't think they will hold. We will attempt to rise and break away but only to fall down much further and harder imo. The sell and go away in May, come back and play another day springs to mind.
Here is the same weekly charts and the daily for my perspective.
Targets - 12705 and then 12800 in short term.
Long term - 11500 for starters with expectations of 10500...
Life is very busy at the mo and I'm unable to post as before but keep up good posts guys. I can't go to sleep without first poping in here to check developments.
Good trading everyone... :clover:
Do any of you guys on this thread follow a trader named grey1 over at technical trader?
Basically i have followed him for some time and attended his recent webinar, he strongly believes the dow is heading south this year no matter how many times they cut rates, because he says it takes around 1 year for the cuts to actually affect the market and we only see spikes when the cuts or news comes out. He has done alot of fundamental analysis and beleives that there are alot of bankrupt stocks out there and he lists the stocks in his forum.
From what he says it seems there is alot of money to be made this year shorting the dow and these weak stocks, are you guys of the same opinion?
jason
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