mark twain uk
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Hook Shot said:
If the wave is as big as we hope, than one day could mean 500 points difference
If the wave is as big as we hope, than one day could mean 500 points difference
Atilla
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Hook Shot said:
Prices just well kewl... back in the profit zone again.
Bloomberg TV was talking about thanks giving day will be a big sell off. That's 25th of November. However, as expectation theory goes that's brokers pencilling that in will sell ahead. Hence BIG sell off likely to be... THIS WEEK.
I would agree that a day or two isn't going to make much of a difference ONLY if you have a trading / money management system where you are not risking any more than 3 - 5% of your capital. You can sustain a hit and not feel too alarmed. BUT I would guess to those who risk more, hanging about whilst liquidity is drained is a butt clenching experience.
Atilla I think this is more a question of trading styles - maybe.
My comment relates to my style about making most of my money from the size of the move/swing rather than the size of my position. You can guess that with teeny moves on the downside at least it has not been easy for me to make decent money shorting indices - well done the bulls!
No my comment was a bit too literal........ but I think you get my gist.........my mistake.
Historic one day falls (excluding 1987 and 911)
1998 - Dow down 512
1997 - Dow down 550
2000 - Dow down 618
As for big move down this week or next - there are loads of people with fat profits and need to take them sometime but why stop here ........ small dip and push it up even higher - Why NOT better performace bigger bonus!
HS
My comment relates to my style about making most of my money from the size of the move/swing rather than the size of my position. You can guess that with teeny moves on the downside at least it has not been easy for me to make decent money shorting indices - well done the bulls!
No my comment was a bit too literal........ but I think you get my gist.........my mistake.
Historic one day falls (excluding 1987 and 911)
1998 - Dow down 512
1997 - Dow down 550
2000 - Dow down 618
As for big move down this week or next - there are loads of people with fat profits and need to take them sometime but why stop here ........ small dip and push it up even higher - Why NOT better performace bigger bonus!
HS
mark twain uk
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covered my shorts for the time being, and opened a little long, if the past is any guidance now that it's found some support it may go back up balistically
Also the thurs-fri morning sell off was around 50pts just like todays so yep why not up up and away ?
Although from 1275 on the spx it looks like 5w up to 1404+ so maybe just maybe... we're getting closer.
Contrary view spx/US only had one day down then new highs which makes it pretty STRONG!
Although from 1275 on the spx it looks like 5w up to 1404+ so maybe just maybe... we're getting closer.
Contrary view spx/US only had one day down then new highs which makes it pretty STRONG!
mark twain uk
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covered my longs, flat now, large sell order in place just under the last support
Cue for tuesday.........macho dax wobbling at present but holding in....down 12 from close 20 off the highs
so nearer the top than dow right now
..... but ftse and cac closed on downtick and feeling a bit of heat with the SB's. Nothing major but something to watch if dow breaks 300.
so nearer the top than dow right now
..... but ftse and cac closed on downtick and feeling a bit of heat with the SB's. Nothing major but something to watch if dow breaks 300.
mark twain uk
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on one hand one could say that the US indices held up quite nicely today and they are building a base for the next push up, on the other hand one could say that the rallies are getting weaker and weaker, the daily ranges are shrinking and there are signs of a rounded top being formed. Which way will it go? I suppose we'll have to wait another day. Good trading tomorrow.
Bez - I bow to your superior .... no honestly I'm not an ewaver it just looked on a 15min chart and assumed!
That said ........ he says scrambling.... I'm confused about 27 Nov and the 144d (it's the only thing I could cling onto since you took me apart)
HS
That said ........ he says scrambling.... I'm confused about 27 Nov and the 144d (it's the only thing I could cling onto since you took me apart)
HS
Atilla
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Hook Shot said:
What is the significance of 144 days. Is it some kind of black magic? Sorry I'm still learning...
On my daily SPX500 candlestick charts I'm looking at a Hanging Man an Evening Star and a Harami Cross.
In my view the battle taking place at 1400 lacks conviction for the bulls. Doubters are increasing... The text book Harmai Cross tells me the battle today between bulls and bears has raged between 2004 - 1996 and closed down from yesterday at 1401. Also that buyers and sellers more or less agree on the closing price as being the correct one.
One of my worry is that my moving averages are still trending upwards. Brain's telling me to wait for the price to turn along with MA but the beast in my belly says short now. MACD and RSI are over extending and turning down.
Thanks giving is this Thursday. Tomorrow and Wednesday the sell off starts.
I'm going to have bulls b0ll0cks for my scrambled eggs tomorrow...
mark twain uk
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The Dax has gone up sharply today, it usually shows the way the US markets will act, we may see new highs being made today, probably on low volume, and probably in a cynical attempt to trap some bulls in a thanksgiving trap.