Anyone shorting the Dow Jones? pt 2

[ibetyou]

Kitbag,you should have a look at snowriders perfect wave before doing that trade then see how you feel.

 

[kitbag1984]

Housing figures lower than expected. Dow opened lower again. Any thoughts on selling now?

I have seen the perfect wave thread but where does he get the idea for this. Is it all TA? Thanks from a newbie?

 

[mlazarus2006]

It looks good to me... I'm going to scoop up those gains!

 

[rawrschach]

I am surprised by the lack of discussion on shorting DJI given the past two days have generated the first technical and structural development that actually makes shorting this index a more realistic proposition rather than the hope for the best approach that had dominated before.

We now have a high which the market has created that can be used as a structural stop. The market now needs to demonstrate a swing that can take out the recent high or else we will get a lower high. We had just seen a significant outside bar suggesting strong supply at current levels.

cuz they've been flushed out for 400 point losses

 

[jlian]

Kitbag, it is almost impossible for a non pro to do successful trading from a plain EW (elliott wave) count.

 

[WR1]

 

[Brumby]

Kitbag, it is almost impossible for a non pro to do successful trading from a plain EW (elliott wave) count.

Are you suggesting that a pro will have greater success than a non pro in using EW or EW itself is useless? Can you please elaborate exactly what are you trying to imply.

 

[Funky Trader]

Surely what has been demonstrated over the past year or so is that any short positions will be relatively short-lived until QE is stopped?

Even poor macro data (and definite renewed recession) has failed to take the chocks away from the DJIA's rise.

 

[jlian]

Are you suggesting that a pro will have greater success than a non pro in using EW or EW itself is useless? Can you please elaborate exactly what are you trying to imply.

Actually yes to both. Even if you do have access to a valid EW count, you need also a valid trading system to implement it. I use the word "pro" to define someone who has and uses a profitable trading system. EW is not a trading system, so if someone tries to use it without other tools (and knowledge) that professionals know, it will be proved to be disastrous. I have to add that a valid EW count includes at least 2 scenarios, the basic bull and the basic bear, and you have to use both, in any phase of the market.

 

[stellarog]

Dow breaks 15000 headlines this w/e. Perhaps it's time for a flush, my guess would be 15060 monday then a nice pullback to below 14000 probably 13870 area.

Stella

 

[cablemonster]

on Jan 19th I said

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.

it's enough to give you that warm feeling inside

 

[cablemonster]

Dow breaks 15000 headlines this w/e. Perhaps it's time for a flush, my guess would be 15060 monday then a nice pullback to below 14000 probably 13870 area.

Stella

maybe, maybe not but what you are doing is running out in front of a bulldozer to pick up pennies, that's all I am saying.

 

[Talbs!]

im up for picking up some pennies at 15k ! free money shorts here !

 

[cablemonster]

im up for picking up some pennies at 15k ! free money shorts here !

careful though the dealers may be eyeing the stops before NY lunch.

 

[cablemonster]

careful though the dealers may be eyeing the stops before NY lunch.

and there they are right on time. it's amazing what a hungry stomach will do to a man. clear out the positions then go get some lunch

 

[jlian]

Aren't you tired of losing your money?

 

[kitbag1984]

Aren't you tired of losing your money?

No need to be like that!

I've been out for a while. I think it will pull back. Just not at the moment.

 

[Doomberg]

Dafuq

Anyone else been using plenty of lube these last few months shorting the dow?

Fu.cked me right up tbh, lost a lot... but hey it happens in trading

 

[piggybridges]

God knows.
I learnt my lesson on trying to short it a long time ago! It just goes up over time. Completely manipulated

I posted this 1 month ago when we were about 600 Dow points lower, lol.
It's rigged to the upside, and not worth trying to pick up pennies(shorting), in front of a steamroller in my opinion.

 

[covered_call]

I posted this 1 month ago when we were about 600 Dow points lower, lol.
It's rigged to the upside, and not worth trying to pick up pennies(shorting), in front of a steamroller in my opinion.

Rigged to the upside is what they want you to believe. The market moves much more violently to the downside because of that which makes owning YM puts always a nice trade when we're making new highs as you needn't pay a bunch but the vol will spike on a sell off and you can 4x your money. You'll take some losses, more than winners, but the losses are contained and overshadowed by the big winners.