Shorting the Dow again.. short at 16,000 \o/

Doomberg

Doomberg

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Here we are again, at the highest point ever and at a quadruple top. I have shorted... who's with me :clap:

Tight stop at 16047, may extend if the quadruple top fails.
 

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I'm very tempted. Now that 16000 is broken it's likely we get a test of the last swing low about 15875 before moving higher. I have to admit though, I'm too nervous about this strong bull market to short it right now even if it means kicking myself later. For my own sanity it's better to be safe than sorry. lol

Call me chicken!

Peter
 
Come awwwn guwys, wyake up and smell tha Cwoffwe (my new york accent impression) haha :smart:
 
I agree with Pete.
Looks like this is a long term trade.
There isn't what I would call significant resistance at 16000.
http://www.barchart.com/chart.php?s...ddindicator=&submitted=1&fpage=&txtDate=#jump

Last major resistance levels:
10500-11000 - 2004-2006
13500-14000 - May 07 - Dec 07
13000-13500 Mar 12 - Dec 12

Most recently:
15000-15500 May13 - Oct 13
That has now been broken

16K is an all time high with no sign of resistance.
It being a big round number and a new high don't mean resistance.
Basically its a bet that the FED are about to show some sign of sanity,
good luck with that one :)
Could go anywhere.
I'd rather bet on the house of cards collapsing when someone actually pulls
a card out, and not before.
 
Just noticed you do have reasonably tight stop, so no harm in the short term I spose :)
As a short term trade - days / maybe weeks, worth the punt, can't fault that really.

In the short term, assuming it goes in your favour, I'd be watching price reaction to:
15940-15910 area, then
15880-15850 area

http://www.barchart.com/chart.php?s...g=1&p=I:30&d=X&qb=1&style=technical&template=

Now watch it collapse to 3000 or burn through to 20k :LOL:
Just guesswork, I've no idea where its going, keep tight stops and you'll be OK :)
 
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Liquid validity said:
Just noticed you do have reasonably tight stop, so no harm in the short term I spose :)
As a short term trade - days / maybe weeks, worth the punt, can't fault that really.
Click to expand...

Anyone trying that shouldn't get too greedy though. Maybe target 80-100 points then get out. A problem is if today's action spills over into tomorrow the stop could easily be taken out 30 minutes after the open. The only way I'd take a very short term punt to the short (dark?) side is if the dow pops nice at open then quickly reverts back under 16000. Keep the stop tight, pick up a few points then go grab a beer!

Just my opinion.

Peter
 
wackypete2 said:
Anyone trying that shouldn't get too greedy though. Maybe target 80-100 points then get out. A problem is if today's action spills over into tomorrow the stop could easily be taken out 30 minutes after the open. The only way I'd take a very short term punt to the short (dark?) side is if the dow pops nice at open then quickly reverts back under 16000. Keep the stop tight, pick up a few points then go grab a beer!

Just my opinion.

Peter
Click to expand...

Its a good opinion, agree on likely first target areas as well :)
 
Doomberg said:
Here we are again, at the highest point ever and at a quadruple top. I have shorted... who's with me :clap:
Click to expand...
Good luck man, but I got to echo previous comments.
Why not keep your powder dry till we get some sign that the trend has changed then have a swing for -500.
What kinda move are you looking for btw?
 

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In my view at the moment this is new territory for the Dow and any short trade, (as things currently are) will be a pure punt. It is noticeable that we have had four daily attempts that have been resisted at really pushing through 16000 and although it closed above that for the first time the range for yesterday was inside that of the day before. One thing I think will happen is that it will retrace by at least 200 points but at the moment there is little that would want me to short it right now.
 
Hi guys, i have added to the position so it's now -£20 a point, i'll probably let it fall down to 15,000 before i close.

I wish :clap::clover::devilish:
 
Hmm, I think the market could easily go as high as 16,116 before any pullback and even if it does pullback before that it is unlikely to go below 15,550 initially in my view. It will be interesting either way.
 
Doomberg said:
Hi guys, i have added to the position so it's now -£20 a point, i'll probably let it fall down to 15,000 before i close.

I wish :clap::clover::devilish:
Click to expand...


Can you do 16000 for 40? I'll take the lot off you. Where's your stop, I may as well squeeze that out...for a total rinsing:LOL:


I believe in father Christmas...(greg lake)
 
Doomy, you usually go for 10 pt stops don't ya? Think your stops been filled mate haha
 
Not stopped yet Kimo, stops are at 16040 and 55...

Talking like that will get you a spanked bottom young lady / man :LOL:
 
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