Dow 2008

[shortorlong]

Classic buy the rumour sell the news! .. did no one see that coming? .. ah the wonders of hindsight .. oh well next time .. actually I was not trading at all today as I got caught long ftse on the day that they failed to pass the bill .. no stop .. I was getting careless .. again .. luckily I managed to bail just before account blow up.

 

[KUTERO]

Market Update
3:30 pm : The major indices are struggling to shake their late afternoon funk. Since traders reacted to the asset purchase plan's approval by selling en masse, the tone has been proportionately bearish.

Market Overview - Yahoo! Finance - The basics of investing.

 

[KUTERO]

5 minutes

 

[kentuf]

Kutero win win 9999 ,dow pilot aryton senna pehh.

 

[Atilla]

I bet there's a lot of people who blew their accounts today.

Just wishing I'd cashed in at 10750! Ended up closing at break even. Waiting for things to settle before getting back in.

This is what's bugging me Hoggums. I should have merely switched and shorted the TA but couldn't believe what I was seeing.

Stupid FA and news screwed me up.

If I didn't get swept the by the news and debate on Bloomberg TV in a white room scenario I'm sure I would have followed my TA and made **** loads out of DOW instead of giving pips back.

Moreover not once or twice but three times... :-0 I'm very upset with my self for not following my system and trading off expectations. Will I ever learn.

 

[KUTERO]

Market Update
4:10 pm :

Friday marked the end of an incredible week on Wall Street.

On Monday the S&P 500 fell more than 9% after Congress rejected a plan to purchase distressed assets from financial firms.

By week's end, Congress approved an amended version of the plan, but traders sold the news in a concerted effort.

Investors were upbeat since the sounding of Friday's opening bell, mostly confident the House of Representatives would pass the latest version of the $700 billion asset purchase plan. Participants were also encouraged by the prospect that the Fed will slash its target interest rate at its next meeting, or even convene between scheduled meetings to more quickly add liquidity to markets.

 

[leovirgo]

This is what's bugging me Hoggums. I should have merely switched and shorted the TA but couldn't believe what I was seeing.

Stupid FA and news screwed me up.

If I didn't get swept the by the news and debate on Bloomberg TV in a white room scenario I'm sure I would have followed my TA and made **** loads out of DOW instead of giving pips back.

Moreover not once or twice but three times... :-0 I'm very upset with my self for not following my system and trading off expectations. Will I ever learn.

I missed the whole session and it must have been quite fun. It was bullish all the way to SELL NUMBER in my system. It would have been a good BUY from the blue dot( cycle buy ) to Magenta Line ( Sell Number ) or I could have stopped out at SuperTrend trailing support. who cares.. TA should work well from Monday onwards after all this drama.

 

[Mr.J-Arthur]

I have revised my trading system, to make it easier and much more simpler. Next week will be full time testing. Only a 200 SMA will be used, along with S&R levels, trendlines and patterns.

When price breaks above the 200 SMA, usually it gives a good buy signal, unless the candles are RED and the overall trend remains downward. Drawing a trend line to show the spike highs moving lower indicates a bull trap of sorts.

Let me demonstrate with a few charts to show the theoretical profit.
The first chart is the mini Russell (100$/pt). This shows 1-3k profit by using the signal I use.

2nd chart is YM (dow, you guys love the dow!). ym is in my next post

 

[Mr.J-Arthur]

YM chart.

Buy signal, 150-200pts, or 500$-1000$ gain.

Price broke the 200 SMA and held.

:clap:

 

[Atilla]

My new Price cutting MA system has a new indicator.


Absence of NEWS! :cheesy:

or

Ensure ears have Bull **** deflector muffles on...

 

[dans_ya_man]

What the hell was that all about yesterday?

All my earlier gains got totally wiped , then some, went into self destruct mode

I was pretty certain we were going to hit 11000, especially after the bill was passed.

Instead we made a new low, totally baffled to F**k.

Pretty sure this will be the low for some time now and expect a strong Bull rally Monday.

I`m sure there are plenty of people out there today licking there wounds

 

[firewalker99]

What the hell was that all about yesterday?

All my earlier gains got totally wiped , then some, went into self destruct mode

I was pretty certain we were going to hit 11000, especially after the bill was passed.

Instead we made a new low, totally baffled to F**k.

Pretty sure this will be the low for some time now and expect a strong Bull rally Monday.

I`m sure there are plenty of people out there today licking there wounds

Do you still think the news matters? Bailout or no bailout, this market wants to go lower.

 

[belgiumbrit]

I too, got caught out in the last hour of trading ...... a long position at 10480 .... i too am totally baffled , didn't see that coming despite the fact that the 60 min RSI was overbought ! Hey ho ....... Monday should be fun AGAIN ....... But this was a new 3 year low ...... and i'm thinking , as you always do, when in a losing trade, that the Dow will rally Monday pm ! Fingers crossed !

 

[Pat494]

I really don't know what some are getting in such a fuss for. over Friday's trading.

Just take a look at the 5 minute tick chart and it's plainly obvious - UP till 1.10 EST and then downhill all the way to the finish.

 

[catracho]

What the hell was that all about yesterday?

All my earlier gains got totally wiped , then some, went into self destruct mode

I was pretty certain we were going to hit 11000, especially after the bill was passed.

Instead we made a new low, totally baffled to F**k.

Pretty sure this will be the low for some time now and expect a strong Bull rally Monday.

I`m sure there are plenty of people out there today licking there wounds

Yep looks like a lot of people buying for the "rally"

looks like we still need to go lower...1-2 weeks left maybe? THEN..a tradeable rally..9850/9750 imho - see chart

 

[Phil Mibbutz]

Add me to the Baffled Friday faction. I expected a rally up to somewhere around 11,000 before normal service was resumed at around 10,500. Maybe a bit of a rise on Monday, but sub-10,000 looks ever more likely to me now.

 

[Paul71]

What's everyone looking at as support here? 10450 got sold off, so where is support?

 

[puregold24carat]

yup....its headed lower still....price action for Monday looks like headed south to 10225 ( am looking to buy here with stop 10175 ) and head upto 10450 ( am looking to sell here with stop 10525 )...for long term its clear 9975 visible as first target.Methinks.

 

[Mr.J-Arthur]

more sellin possible

You guys check out my single 200 SMA system of trading? What do you think? It's nothing new, but I think it might be a really simple and solid system. The holy grail perhaps? LOL.

 

[chilltrader]

more sellin possible

You guys check out my single 200 SMA system of trading? What do you think? It's nothing new, but I think it might be a really simple and solid system. The holy grail perhaps? LOL.

yes.. 200 SMA rocks :clap: