Double your money the easy way

[mrfigure]

Christ, just listening to the news, number of job losses resulting from government cuts is 5 times more than forecast !! 5 TIMES !

 

[DaddyJohn]

my DOW im looking to exit later the FTSE i will exit if we get a good aftermarket price I expect pretty much same as today tomorrow and will be looking for the short wednesday if we hit 226 in the morning infact anywhere under 272 then this will change the wednesday short to late Thursday/Early Friday

A nice gap up in the morning would be nice to sell into in the morning.. followed by an afternoon rally

 

[samirs]

what's the outlook...will have an end of the day rally to push things higher?

 

[DaddyJohn]

my DOW im looking to exit later the FTSE i will exit if we get a good aftermarket price I expect pretty much same as today tomorrow and will be looking for the short wednesday if we hit 226 in the morning infact anywhere under 272 then this will change the wednesday short to late Thursday/Early Friday

I understand... todays action could lead to another day 2, but if we hit the prices you mention above then that means we are in day 3 and the pattern starts again on Wednesday, with Friday concluding the pattern. Am I right?

 

[DaddyJohn]

You couldnt resist, could you?

I know ... but it was an ok trade.

Samir, you asked later about if we will rally further tonight.. I cannot remember if you post on the "anyone scalping the ftse thread" , but every morning or evening I post what I think will be the potential highs or lows of the day on ftse futures. It doesnt mean I can tell you the exact range of the day.. but they can tell you where price is likely to stop, retrace or consolidate before breaking through.. The extreme lows and highs i give are real wayout very low probability of hitting, so if we are near them like we were tonight then you should be looking to go the other way on confirmation of divergence and fib clusters. Or staying out if not sure. The prices are based on the avergae range we are in and where price closed the day before.

 

[samirs]

Many thanks DJ. I was able to participate in the last half hour push higher.....look forward to your next post on the scalping thread for range tomorrow.....

 

[dc2000]

I understand... todays action could lead to another day 2, but if we hit the prices you mention above then that means we are in day 3 and the pattern starts again on Wednesday, with Friday concluding the pattern. Am I right?

correct

 

[dc2000]

Hi DC - Are you expecting dow to go sub 200 later today?

If we are to go for upper target yes

 

[dc2000]

A nice gap up in the morning would be nice to sell into in the morning.. followed by an afternoon rally

if we gap up and early high then Im holding my shorts for the DOW 11022 a gap down on FTSE or flat then down to 320s/340s with late day rally would keep the upper target in play

a gap high 5434 would open 4943 for next week

 

[dc2000]

looking to exit shorts today 103 would be ok but 022 better

 

[Vivek_Chhibba]

Is anyone else here a pessimist and thinks this market is still going to collapse?

 

[leonarda]

I must say looking at the charts and given some positive wind from some Euro positiveness, I would put a high probability of the dow heading to 11800 (150SMA) then pulling back to say 11400ish, then heading for 12K.
but equally some bad Euro news and we'll have a 500pt drop back down to 11k and you're in the money again! 🙂

If the former scenario were to play out presumably your rules would pull you out on the turn at 11,400 ?

 

[Sidekicker]

Is anyone else here a pessimist and thinks this market is still going to collapse?

The collapse is probably a few years away. In the medium term, there will be more bailouts, more QE, more support of the markets.
I think this range we are in will stay for the moment unless risk is eased.

 

[samirs]

Is anyone else here a pessimist and thinks this market is still going to collapse?

I didnt see pessimism on this thread....I understood that DC is saying we'll get to the low levels and then make highs.....

 

[samirs]

Hi DC

Hope you are fine. Missed your analysis and views today.

regards
Sam

 

[LuKOs.ro]

The collapse is probably a few years away. In the medium term, there will be more bailouts, more QE, more support of the markets.
I think this range we are in will stay for the moment unless risk is eased.

The only thing that keeps my pessimism away is the though of more QE, which is more and more evident. QE3 will be announced as late of march 2012.

Cheers!

 

[dc2000]

I didnt see pessimism on this thread....I understood that DC is saying we'll get to the low levels and then make highs.....

thats what Im saying Sam when looking for an entry I always want yesterdays price

 

[samirs]

DC- Are you not posting here anymore

 

[dc2000]

Hi sam
yes didnt update last weekend as went away still short position and waiting for target which should come in next few days then I have to decisions to make

 

[dc2000]

I must say looking at the charts and given some positive wind from some Euro positiveness, I would put a high probability of the dow heading to 11800 (150SMA) then pulling back to say 11400ish, then heading for 12K.
but equally some bad Euro news and we'll have a 500pt drop back down to 11k and you're in the money again! 🙂

If the former scenario were to play out presumably your rules would pull you out on the turn at 11,400 ?

I would probably be out before then around 11695 area