leovirgo's Blog

DOW & FTSE

Today
=====

DOW: Shortsale day

No need to guess what to do. It has fallen for more than 90 points as I write this journal. The out-of-market 950 problem which I mentioned in the previous post is now solved. Bulls had their day so did the bears.

FTSE: BUY day

As Friday Shortsale day ended up as a V shaped SSday, it suggested a high made first which could be sold off.
Tomorrow's high will tell where it is going for the next move.
 
DOW and FTSE

Today

FTSE: Sell day
DOW: Buy day

For Dow, buy set up came in quite late around 7.30pm.
Closing above 976 will show strength.

FTSE: Looking to go short sometime tomorrow as it will be Shortsale day.
 
DOW

Today 10th March 2006

DOW: BUY day.

Yesterday was Shortsale day and anybody who went short would have got decent profits. I did not trade for the last two days. Although I knew today would be BUY day, I came to work late around 15.30hrs, and did not go long on the way up.

Now I am short for a pullback. But I am not very comfortable shorting on a BUY day. I wish I had gone Long around opening time and already out of the position by now.
 
DOW and FTSE

13th March 2006 Monday

DOW: SELL Day
FTSE: Shortsale day

It is a good day to liquidate any Long positions in DOW. I went short DOW Friday for a pullback and it fell 50pts. I covered my short abit early as I had to leave but still managed to bag some profits.

Now short in both Dow and FTSE.
DOW: short from 11107
FTSE: short from 5937
=========
19.00 edit
Both shorts have been covered.
DOW: 11059
FTSE:5935.
I still think FTSE can go down. But there is always tomorrow.
 
DOW and FTSE

14th March 2006

DOW: Shortsale day
FTSE: BUY day

FTSE is on the highside today. Any Long position taken yesterday would be profitable. That's the god thing about FTSE. It is crude and unsophisticated. Most of the moves are found during early and late hours. Semi-mechanical trading would suit FTSE very well. Entry taken on discretion but limit orders for Exits will be very useful.

DOW is hesitant so far since the opening. I will let it go one way for 1-2 hours and then upon exhaustion, I wil enter a position. Don't know Long or Short. But .. it is Shortsale day today !!
========

17:00 edit
Went scalping both long and short with DOW. I guess early movements are nearly done. Currently short from 11108 as the main shortsale entry.
 
DOW & FTSE

15th March 2006

DOW: BUY day

Yesterday's rally questioned the validity of shortsale day. However, as expected it fell for about 20 points and now back in the range. If I couldn't close today, look to do it either on Friday or Monday.

consolidated shorts@ 11129.66

=========

FTSE: SELL Day
Any long position should be sold out. Tomorrow should be interesting.
 
DOW and FTSE

16th March 2006

DOW: SELL Day

As it had a strong closing, it will go beyond yesterday's high. For short positions, tomorrow (Shortsale day) is crucial. As for me, I still have main short position, and scalping here and there on another a/c.

FTSE: Shortsale Day
FTSE will show us if it can fall at all. Early morning corrective decline ( shortsale) is now completed in one session.
The last shortsale day (Monday) did not fall at all.

Strong up trend is evident both in Dow and FTSE.

Tomorrow: I expect FTSE to go higher possibly reaching into 6000 and then some form of corrective decline.
 
DOW and FTSE

17th March 2006

DOW: Shortsale day
It favours the pop-and-drop style. But the question is whether the decline will be completed and recovered in one session. In that case, the correction will be delayed.

FTSE: BUY day
But has fallen to some extent already. A weak Buy Closing. The TTT would say the top is almost in. Further up trend may not be expected unless 6044 is penetrated on Monday and Tuesday.
 
DOW and FTSE

20th March 2006

FTSE: Sell Day
It is worthnoting that FTSE has failed to reach Friday's High. That is a sign that this up trend is loosing momentum. And in my opinion, FTSE is a head of DOW. Dow may follow suit tomorrow.

DOW: Buy Day
As Friday closing was strong, it opened up and fell as suggested in TTT. If it violates Friday's Low, then more downside penetration can be expected. If not, there will be another rally to test the high.
 
DOW and FTSE

21st March 2006

DOW: SELL Day

DOW tested yest's high and penetrated it. But 11325 seemed to be the target high from 10/03/06 BUY DAY. [ BUY day low@ 10973, Shortsale day 14/3/06 high@11160, Rally was 185 pts]
Adding 185 to 15th low 11140, 11325 is the target.
Tomorrow is shortsale day, if it does not reach today's high (11334) it is likely that we have seen the high of this rally.

FTSE: shortsale day
As the name suggested, it fell in the first half. But the decline is quickly recovered in the later session. Expected play is to go higher in the opening ( 6000 retest perhaps) and then fall. If it violates 5956( today's low), I won't buy.
 
DOW and FTSE

22 March 2006

FTSE: BUY Day
Anybody who went Long FTSE yesterday close will be pleased to see it going up from 5960 to 5998. This move was already expected as part of yesterday's analysis. I have seen this kind of simple moves by FTSE many times. They are easy to trade.

DOW: Shortsale day
It may recover from yesterday's low. Failing to reach 11334 will send it back to downward swing. A nice decline should be seen during the course of the day.
 
DOW and FTSE

It looks to me that FTSE's shape is followed by DOW! Yesterday, DOW recovered just like FTSE and today FTSE was in a downward slope and so was DOW.

FTSE: SELL Day
As it says, it was time to close any LONG positions taken on BUY day. Today, the closing was weak. I would sell short into any rally particularly around 6020-6000. Failure to reach 6029 will be a signal of lower swing coming around the corner.

DOW: BUY Day
Yes, it can fall on BUY day! As yesterday (shortsale day) was a High made last Shortsale day, it is a TTT rule that opening high should be sold short. A sure shot!

One dilemma now- as the low of today was 11237.41which was below Wednesday's (SS) opening 5 min price,, that means it violated SS Low and lower prices can be expected.
But the actual opening price was 11237. Therefore, today's low 11237 represented a very nice Long entry. DOW is a very sophisticated market to trade.

Tomorrow: DOW: SELL day. FTSE: Shortsale day.
I will take the cue from FTSE.
 
DOW and FTSE

24th March 2006

FTSE: Shortsale Day
I did sell short FTSE from its morning high. But I was stopped out as I did not take profits at the turning point. A classic V-shaped shortsale day! Prices recovered and even penetrated the morning highs into the close. That means we can expect a high made first buy day on Monday i.e, Sell short in the morning and, if it looks bullish, cover and go long for the second part of the day.

DOW: Sell Day
11237 was in deed a very nice Long entry. So far, it moved to 11315 already. But TTT says upon failure to reach 11325 (prior day's high), may go short til the low of the day. I wil watch if it can break out. Already soldshort a small portion with limit and stop orders.
Limit order triggered. A nice short.
 
DOW and FTSE

27th March 2006

FTSE: High made first Buy day
FTSE moved exactly as I expected Friday. High made first and then a big decline and it never recovered. Any shorts from 6040 would be very profitable.

DOW: Shortsale day
As it says, it is falling. I will watch for any recovery. V-shaped shortsale day may be in place where earlier session decline is recovered in later session rally. I was busy with shorts at swing high and cover at lows.

Tomorrow
========
FTSE: Sell Day
Tricky as today was very weak Buy day. It may be the beginning of trend change.

DOW: BUY day
But FOMC's pending decision will make it a slow day until the announcement. For uncertain times, it may be the best option to wait.
 
DOW and FTSE

28th March 2006

FTSE: Sell day
It tried to rally and gave us a perfect short selling entry. Looks like there is a change in at least short term trend.

DOW: BUY day
But be careful, it's Fed day. I am just watching the news and reactions. Covered my shorts already.
 
Day trading DOW

I haven't updated the journals as I've been busy with forward testing my system. Learned alot during the recent rally to 11660+ and subsequent correction ( so far 11120+). I look forward to volatile days ahead.

Will update the journal in real time. But I think T2W chat room is also interesting.
 
Day trading dow

19May2006

Dow: Sell day.

Yesterday was weak Buy day, as in TTT it broke down below yest's low then a nice bounce. Lost a few times during nasty spikes, got stopped out. But managed to ride a nice bounce at 5.30pm.

Looking forward to Monday!
 
Dow trading

I couldn't update my journal as I am blogging my trading diary. Tomorrow is shortsale day. I know that it is rallying from 11040 double bottom. But on a shortsale day, a nice shorting opportunity can be found, ususally 30-70 points for Dow. If there is an afternoon rally with just a mild decline in the earlier part, then this would be a sign of trend change. The immediate trend is to go higher. If the markets is ranging within 40 points for most of the time, then it is usually followed by a nice decline on the next day.
 
Dow trading

Well, yesterday's shortsale day signalled a possible trend change. Dow traded higher and shortsale came in late and it was a higher shortsale. That means the decline did not go much lower than previous day's high ( Decline from 11200 to 11164). Then it turned back upward to the close.

Today is BUY day.

Trend change signal will be confirmed if the prices trend higher.
Expected play is to go higher in the first hour then followed by a small decline, not below 11160. From there, a strong rally should take place. If not, the major down trend is stil in place. I will illustrate this in my blog.
http://leovirgo-trading-diary.blogspot.com/
 
Dow trading

Today marks the completion of downward Wolfe Waves. Dow has fallen from the highs of 11670 to the lows of 10926.

Chart illustration shown at personal blog site,

http://leovirgo-trading-diary.blogspot.com/
 
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