Dow 2008

[breadman]

the only positive about this down move is that it has filled the gap so that it can go higher. It looks like it is going to find it very hard to rise above 11700 and stay their. now it needs to bounce.

 

[chilltrader]

I think its just pulled back from the highest point we might see for another year ?!!

 

[Atilla]

Pivot point breached. Either we'll have a bounce from 11500 or 11470 is next target.

If 530 is broken down I'll short. I'm not the one to argue with Mr Trend... Should have realised when 630 didn't hold.

Some days it's almost unavoidable being a plonker...

What a super call with the 11470 but that first stupid long against the trend messed me up.

Should have gone short when 600 failed to hold.

That's it no more trading for the rest of the day.

PS. Missed the drop whilst stuffing my face... Tea was exceptional though...

 

[fibonelli]

Unless da PPT come in with all guns blazin', there will be a daily key day reversal (aka bearish outside bar reversal)

Also, the bond and commodity complex look like printing hammers or similar.

 

[Mr.J-Arthur]

Bull trap? Try Bull slaughter! haha.

I exited my short WAYYY to early. So I've scalped on the way down, not too shaby.
But it was a fun day to trade!

 

[francisfinley]

im in long @ 11500 dow currently @ 11520

oils going slowly after coming off 110.5 currently @ 110.21

 

[Pat494]

Was todays action a bull trap?

Straight from the horse's **** end

Definition:
A situation that occurs when prices break above a significant level and generate a buy signal, but suddenly reverse course and negate the buy signal, thus "trapping" the bulls that acted on the signal with losses.

 

[francisfinley]

im in long @ 11500 dow currently @ 11520

oils going slowly after coming off 110.5 currently @ 110.21

closed for 15 pts gain.

now wheres it going!

 

[cu20052003]

Hi, there DOW players!

The US economy will shrink for the latter of the 3 rd Quarter so the news won't be good in the long run, possibly Oil might retrace back to the $120 level and cause the downward trend!

closed for 15 pts gain.

now wheres it going!

 

[Mr.J-Arthur]

Good trading guys. Better luck tomorrow! See ya in the pits :clap:


Here's a cartoon of the day, and it's all about traders' emotional and bulltraps. Enjoy

 

[Pat494]

Got it down today as probably choppy, in the 1305 to 1272 (S&P) range

 

[Atilla]

Got it down today as probably choppy, in the 1305 to 1272 (S&P) range

I'm long waiting for it to burst through 11700...

 

[Mr.J-Arthur]

yeah, looks like it may chop around. let's see.

 

[Dinos]

Afternoon guys, ok, if I join you?

 

[Atilla]

Afternoon guys, ok, if I join you?

Dinos,

We/I am indeed delighted. Good to see you back. Just like the good ol days.

Mikey

 

[breadman]

I'm long waiting for it to burst through 11700...

yes we need a move up now with the market going above 11700/11740 and staying their. all the bears are aware of resistance at this area so it needs to be taken out to scare them out of their positions.maybe they will then start buying, driving the market to the 11900/12000 area, where it will top and drop down to the july lows.
that's my thinking lets see if it happens.

 

[Pat494]

Afternoon guys, ok, if I join you?

Good to see you Dinos. Back from France ?

 

[Dinos]

Hi Mike / Pat

Yes, got back last week, refreshed and raring to go again, I know I haven't been on the board for some time, but will endeavour to add a thing or two and maybe a few lives trades as well, hope your both well

 

[KLfutures]

yes we need a move up now with the market going above 11700/11740 and staying their. all the bears are aware of resistance at this area so it needs to be taken out to scare them out of their positions.maybe they will then start buying, driving the market to the 11900/12000 area, where it will top and drop down to the july lows.
that's my thinking lets see if it happens.

Jeez! That's some prediction you've got going there, breadman. You're not related to Mystic Meg, are you?

 

[nikwest]

chop , chop, chop !!!!