Dow wasn't overly bullish yesterday IMO....
Big fat up candles from 10100 area, yesterday's range is a fraction of their size - on intraday chart the last hour is the high but whilst bottoms are rising the tops flatten off. I half expected a 'let's push it through 10500' effort today, but there's a LOT less of a push up showing in yesterday's chart than the previous few days... to me that's either going to turn into a spot of consolidation or a downturn.
On intraday right now as I type there's a down leg, a clear bottom at 16:30 (UK GMT) and an up candle after it - I'd be looking for one of 2 things (up or down <g>) ... either it now rebounds from that low fairly quickly, or the rebound does a death at 10440 or so and we go short past the 16:30 low. I'd not close any shorts right now, I wouldn't open short or long right now - but I suspect I'd go short in the next few mins...
PS Soc's right - on a short the stop is above the price, not below it. (Not being argumentative here, just factual).
Dave
Big fat up candles from 10100 area, yesterday's range is a fraction of their size - on intraday chart the last hour is the high but whilst bottoms are rising the tops flatten off. I half expected a 'let's push it through 10500' effort today, but there's a LOT less of a push up showing in yesterday's chart than the previous few days... to me that's either going to turn into a spot of consolidation or a downturn.
On intraday right now as I type there's a down leg, a clear bottom at 16:30 (UK GMT) and an up candle after it - I'd be looking for one of 2 things (up or down <g>) ... either it now rebounds from that low fairly quickly, or the rebound does a death at 10440 or so and we go short past the 16:30 low. I'd not close any shorts right now, I wouldn't open short or long right now - but I suspect I'd go short in the next few mins...
PS Soc's right - on a short the stop is above the price, not below it. (Not being argumentative here, just factual).
Dave
Bigbusiness
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SOCRATES said:
Don't you get very excited!
The simple point that I am making and that you failed to see from Dowsyndromes' post is that he went short at 10495, as the dow fell,moved his stop to 10475 and at the time of posting his message the dow was in the 10450's.
Simple really.
And there's no need to patronise.
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Apologies to Dowsyndorme etc...
I read it the same way Soc did I think - the trade price and the associated stop, which were rather oddly related <g> The timestamp on T2W is an hour out.... the price at the time the message header reported that post tied into the open, where it was still dropping through the area of 10470.... hence the confusion!
Dave
I read it the same way Soc did I think - the trade price and the associated stop, which were rather oddly related <g> The timestamp on T2W is an hour out.... the price at the time the message header reported that post tied into the open, where it was still dropping through the area of 10470.... hence the confusion!
Dave
Greenspan upbeat on energy prices for the immediate future. However the issue of the twin deficits, the housing bubble, overseas finance of the trading deficit and the prospect of futher interest rate rises were off the agenda, but remain firmly on the table !
Racer
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WASHINGTON (AFX) -- Fed chief Alan Greenspan said he does not agree with economists who might argue that the Fed funds rate has already risen above the so-called neutral level. 'At the moment, we are not in agreement with those who you quote,' Greenspan said when asked to comment on the arguments from some economists that the string of eight straight quarter point rate hikes has brought the Fed funds rates above neutral. The neutral rate is the level of interest rates that allows for steady growth without inflation. The Fed stated after its latest meeting on May 3 that the Fed funds rate remains accommodative, or below the neutral level.
Bluewave
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user said:Couldn't agree with you more CV. Absolute S***.
Moving on from this, I always make my Dow comp entries on the weekend. Unfortunately I was rather busy this weekend and forgot to make my entry. I would have won the comp but sadly I made my entry on Monday. So Bluewave thanks for the congrats but I'm going to pass them on to the worthy winner 'domaslan' (only as I forgot to make my entry on time, watch out next month).
Oops, my mistake. I wasn't thorough in checking Domaslan's current score. Sorry User, but hey, well done on 2nd place
And well done to Domaslan!... I haven't seen him posting much but he's obviously good at predicting Friday levels. Can he repeat it next month.....?
barjon
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ok enough is enough. I'm going to spend a happy few hours deleting all extraneous posts over the last ten pages or so in order that people can discuss the topic of this thread without getting diverted by the constant personal attacks, abuse and point scoring.
Then, if it continues, I will close the thread, so be warned.
jon
Then, if it continues, I will close the thread, so be warned.
jon
TheBramble
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Jon - why not just close the thread anyway? It's not like there's too much many are going to want to scroll back through for useful trading information or research.
Then, those who want to actively discuss the Dow can do so by re-starting the weekly DOW thread - the one that Chartman used to initiate was always a good read.
We know from previous experience here on t2w that some threads can become so 'imbued' with their own content they take on a vibration all their own. Sometimes very good - sometimes very bad.
Kill the thread and kill the bad vibes along with it.
Just my 2c worth.
Then, those who want to actively discuss the Dow can do so by re-starting the weekly DOW thread - the one that Chartman used to initiate was always a good read.
We know from previous experience here on t2w that some threads can become so 'imbued' with their own content they take on a vibration all their own. Sometimes very good - sometimes very bad.
Kill the thread and kill the bad vibes along with it.
Just my 2c worth.
roguetrader
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barjon said:
Your perogative of course, , but the problem has nothing to do with the thread, if you read the posts, it exists between the individuals involved, and as such rquires no particular subject in which to take residence. I suspect if you adopt that approach you should be prepared to close a lot of threads in the future. Treat the cause not the symptoms.
