Anyone shorting the Dow Jones? pt 2

Doomberg · Jan 18, 2013

It's at a massive resistance in my opinion... if you remember correctly i forecasted just under a 1000 point fall last time i did a Dow thread. I'm normally an intraday trader but this looks juicy as hell. I'm in at 13605.6 and my stop is 13668.

How is everyone anyway?

Vasco da Banana · Jan 18, 2013

Doomberg said:
It's at a massive resistance in my opinion... if you remember correctly i forecasted just under a 1000 point fall last time i did a Dow thread. I'm normally an intraday trader but this looks juicy as hell. I'm in at 13605.6 and my stop is 13668.

How is everyone anyway?

I agree it should be a short, but I've been thinking that for weeks.

Doomberg · Jan 18, 2013

Vasco da Banana said:
I agree it should be a short, but I've been thinking that for weeks.

Me too, and today is time to press the button, look at it on large time frames, it's just a sexy trade :cheesy:

tradingteacher · Jan 18, 2013

I am shorting it, I am also shorting the FTSE, it's trading above a huge monthly resis and I think there is a good chance of price being rejected there and a big retracement.

Talbs! · Jan 19, 2013

I shorted the close last night, agree with stops above the old highs at 13668 ish! Good luck guys !

barjon · Jan 19, 2013

Doomberg said:
It's at a massive resistance in my opinion... if you remember correctly i forecasted just under a 1000 point fall last time i did a Dow thread. I'm normally an intraday trader but this looks juicy as hell. I'm in at 13605.6 and my stop is 13668.

How is everyone anyway?

Correctly? Far as I can recall you started calling short at 13070 and the market went up nearly 600 before a drop came in.

Vasco da Banana · Jan 19, 2013

barjon said:
Correctly? Far as I can recall you started calling short at 13070 and the market went up nearly 600 before a drop came in.

Oops!🙂

brewski1984 · Jan 19, 2013

It just looks too obvious that's the problem, plenty of money just lying around for the pros to pick up. I might have a small stakes punt on it though.

Doomberg · Jan 19, 2013

barjon said:
Correctly? Far as I can recall you started calling short at 13070 and the market went up nearly 600 before a drop came in.

Lol nope, i'm not that guy... take a look at my original thread

Doomberg · Jan 19, 2013

In fact i have a screenshot for you, 6th of July last year.... my forcast was correct, i did make a **** up on the trade by moving stops too tight and not sticking to my original plan but what i said would happen did, as i think it will this time too (or hope to)

barjon · Jan 19, 2013

Doomberg said:
Lol nope, i'm not that guy... take a look at my original thread

Ooops! My apologies, Doomy. What was the name of that guy? Mind you, you did start off your last thread talking about short at 13070 🙂

Would you like me to remove my posts and those associated with it?

Doomberg · Jan 19, 2013

Hey no it's fine mate 🙂 and i know who you mean.... it was deadbroke with the "Great Depression - Short trade of a Lifetime" thread he just disappeared in the end after adding to his short regularly for months on end, i wonder what happened to that guy lol

barjon · Jan 19, 2013

Doomberg said:
Hey no it's fine mate 🙂 and i know who you mean.... it was deadbroke with the "Great Depression - Short trade of a Lifetime" thread he just disappeared in the end after adding to his short regularly for months on end, i wonder what happened to that guy lol

Aye, that's the guy. At least you both start with a "D", but I should know better than to rely on my memory at my age 😆 Sorry again 😱.

Hope it goes well for you. I'll still be favouring the long side 'til 13300 goes.

cablemonster · Jan 19, 2013

Hey guys, I dont trade the Dow but..... just looking at the weekly chart this is a powerful 3 week break upwards. It all depends on your timescale/tradeplan for a short. I would certainly expect to see some sort of reaction @ last sept highs however this is a powerful multiweek uptrend, last week there was multiple coordinated talk on the wires of more QE. I am just saying I would not be surprised at all to see a multiweek breakout, my weekly/daily bias is firmly long.

Talbs! · Jan 19, 2013

barjon said:
Correctly? Far as I can recall you started calling short at 13070 and the market went up nearly 600 before a drop came in.

What's 600 points between friends 😉! £1 a point anyone

rawrschach · Jan 19, 2013

...don't sell stocks when the saps running up the trees

Vasco da Banana · Jan 19, 2013

rawrschach said:
...don't sell stocks when the saps running up the trees

I thought the saps were running the country.

timsk · Jan 20, 2013

Doomberg said:
Me too, and today is time to press the button, look at it on large time frames, it's just a sexy trade :cheesy:

Hi Doomberg,
I've been 'predicting' a fall in $SPX since the start of the S&P 500 weekly comp' thread and have come unstuck every time! The 'sap' - or moving averages - are still pointing up. For a long term play, it's too soon to be going short, IMO . . .

When the EMAs cross back over - that's the time to load up the shorts!

tomorton · Jan 20, 2013

Going beyond the theory, have people got short positions open on the Dow or sell orders above 13300?

Vasco da Banana · Jan 20, 2013

tomorton said:
Going beyond the theory, have people got short positions open on the Dow or sell orders above 13300?

No, but I've had plenty of stopped out shorts.

Anyone shorting the Dow Jones? pt 2

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