Dow 2006

[mark twain uk]

You're too good for me, so I got stopped out and am now long again from 12090 and 1376 cash, with the tightest of stop losses. Funny psychology really, after being a bear for months and only selling the rallies, I now seem to develop a passion for buying the dips.

Out at 1386 for a clear +100 pips (Nice!) and also out of dow at 12140 for +50 pips, not as big but still nice. One lesson learnt. Buying dips at the right time is a lucrative business.

 

[Atilla]

Out at 1386 for a clear +100 pips (Nice!) and also out of dow at 12140 for +50 pips, not as big but still nice. One lesson learnt. Buying dips at the right time is a lucrative business.

Congratulations... and the next turning is...?

 

[mark twain uk]

Congratulations... and the next turning is...?

Sorry, I am busy polishing my crystal ball, it's a bit cracked from all the kicks it's taken over the last few weeks.

I hope it goes a bit higher so that I can go short again with some confidence.

 

[dc2000]

dont need no crystal ball just one of these to get plenty of this

 

[Atilla]

Sorry, I am busy polishing my crystal ball, it's a bit cracked from all the kicks it's taken over the last few weeks.

I hope it goes a bit higher so that I can go short again with some confidence.

Looking at the charts I'm not sure if the bounce back has got any conviction. I'd betting the trend is down though. The narrow trading band looks like 12130 - 11090.

 

[Atilla]

dont need no crystal ball just one of these to get plenty of this

What the?

Looks like a time machine....

Must be difficult balancing it on your wrist... :cheesy:

 

[Hook Shot]

just to put some numbers to that, my preferred entry is 12219 Dec about 12192 cash and would ideally like to see an early drop to 094/093 in the cash

Dc was there any particular reason for your selection of 12219f/ 12192c ?
Just curious....... :idea:

 

[Hook Shot]

We gotta break 140 to see 180-200 if not we may be in trouble.......
12144 is not much of a bounce..............the min retrace 25%!

 

[dc2000]

Dc was there any particular reason for your selection of 12219f/ 12192c ?
Just curious.......

inner zone level and daily calc

 

[leovirgo]

FC's long only Dow system

Entry Rules:

Wait until the 24th of each trading month, as the window for trading longs is from the 24th to the end of each month...

When we are in this window, we look for a Down Day (of any percentage).

We the go long as close as possible to the close of this down day.

Exit Rules:

Use a stop of approximately 6-7% of the Index Value...(very rarely gets hit)

or,

Exit on the first profitable close after the first day, else after 6 days..

Dear FC,

What do you mean by "the first profitable close after the first day"? The first day after the entry or the first day after the end of month?

To be precise, do we have an exit signal at yesterday's close?

thanks,..

 

[karmit]

"Bernanke: Interest Rate Cuts Unlikely"

So, when does the train leave for DOWnland? (or has it already started!)

 

[FetteredChinos]

Dear FC,

What do you mean by "the first profitable close after the first day"? The first day after the entry or the first day after the end of month?

To be precise, do we have an exit signal at yesterday's close?

thanks,..

hi there Leo.

no, the close would be on todays close, were it still profitable. ie start looking to close after 48 hours onwards

the idea is to give the trade a bit extra breathing space. it improves the average pts/trade ratio, which always helps.

its looking good so far, assuming the indices hold onto their early gains.

fc

 

[catracho]

thinking one more move down to 12k or just below (11800 ish)..then a decent rally. Any weakness below 11800 targets 11650.

 

[candles]

still looking for a 12190 ish to short DC?

ta

 

[chump]

http://news.yahoo.com/s/nm/20061129/bs_nm/usa_economy_gdp_dc_2



LOL..you've got to love it havn't you ...if we don't get a number we like on the first count we'll count again until we do.

 

[mark twain uk]

a cheeky short on the spx cash before the open, it's some 60 ticks above yesterday.s close - out at B/E the drop did not happen

 

[mark twain uk]

short from 186 cash, could not wait for dc's 192, he always gets better prices than me though

 

[FetteredChinos]

err, good luck mark.. standing in front of a freight train at the mo?

 

[Atilla]

err, good luck mark.. standing in front of a freight train at the mo?

I would agree. Despite falling dollar, slowing down economy, ballooning budget defecit, potential inflationary pressures, need to raise interest rates, conflicting signals and requirements from the markets the US financial markets rising like there is no tomorrow.

What a load of tosh. Where is the good news - that the US economy grew stronger than anticipated? Best to sit this one out.

However, as much as I believe the market is to fall further, I would not be shorting at the mo.

 

[FetteredChinos]

the US financial markets rising like there is no tomorrow.

you mean there isnt one?

knackers, better spend all the cash today.