Path For The US Week Of 23 June 2003

SUNSEEKER

Established member
872 12
well, I am flat now, waiting for 978.50 in the SP, which is a 19 by 19 down. if this does not hold the market and cause shorts to take profits, then we should push much lower...right now, just sideways
 

SUNSEEKER

Established member
872 12
rr, YOU ARE RIGHT....

I am long here at 979 in the SP basis that the 978.50 has been hit. That number is a 1:1 of 19 down...it was a major target for today....let us see if we get some buyers in off this number and then the push higher I was looking for earlier....
 

sidinuk

Established member
624 5
you could be right Tom but personally I don't like to pick bottoms. I prefer to keep my fingers clean and wait for a show of strength to make sure this particular bottom doesn't have a hole in it.
 

a320

Established member
689 8
On the bright side, these who watched Tom get teased by Chantalle, (who looks better with a bob) will know doubt be impressed by calling the top and implying this was just a 50% retracement in an over all bear market :)


Cheers a320.
 

a320

Established member
689 8
Emma Crosby on CNBC always looks v well, Kavata has a large following on these boards as well!! Closely followed by Mark Barton :rolleyes:


Nice candles on 1 min SPX, Head Fake around the Hammer retest, to form a morning star.
 

SUNSEEKER

Established member
872 12
i dont know how much there is in this move up right now, but I had it on my chart

I took 8 ticks out of the Dax from it....the question is, are they going to reverse the trend of the day...UNLIKELY at this point....
 

a320

Established member
689 8
Tom are you trading with sb or cfd with City?

Are City planing any seminars in Manchester in the near future?



Cheers a320.
 
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SUNSEEKER

Established member
872 12
trading direct right now a320....it varies

i am in two minds about this market.

in my analysis and on Bloomberg I said I was bearish against the 61.8% in the Dow. I have a few small shorts there but nothing big. I pretty much got what I wanted on the short side today in the Dax and tried to reverse....my stops prevented damage, and tried again....

The darn thing is that the path is pointing higher, and I have made some cash out of it today, but I am sure anyone who reads this will agree with me that a reversal from being down 140 points in the Dow is quite unlikely....

The market looks weak and I have already got the pattern for tomorrow. that should be a trend day down. I just cant gel that unless we are beginning some serious rot in the market, and I feel it is too early.

The cycle chart I showed earlier produced a nice reversal. I think the battle for 9000 has begun.

When the Dow declines like this after an option expiration, it looks to me as if the portfolio managers are buying some more insurance ( puts ) which could be the cause of the smash down this afternoon. In that case we are in for a volatile week with tripple digit gains and losses from day to day.....

just a thought

Sun
 

SUNSEEKER

Established member
872 12
BTW, City is in Edinburgh on Thursday, but I can't recall we have got anything planned for Manchester in the near future....sorry..
 

sidinuk

Established member
624 5
A very nice consolidation forming on the ES at lows between 977 and 980 for the last few hours as I suggested would happen. We'll probably get a little tester out of the top of the range to catch all the breakout fans before falling back and out the bottom.
 
 
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