Dow 2007

[Atilla]

looks like dow might go up since dax is so strong....?
if 13500 blows then dax should be nice short ?

I'll be waiting for housing stats and then watching a while.

Looking to short unless there is some good news ( which I suspect ) and a determined surge forward.

We may have had a fill of lows aroung 13500.

 

[hobby]

looks like dow might go up since dax is so strong....?
if 13500 blows then dax should be nice short ?

My thoughts entirely....my shortin' finger is quivering. I'm thinking that that the US will open perkier & carry it though going into the housing figures....I then hope to short the DAX north of 7750 cash.

I see oil has recovered its earlier losses...memorial day weekend & the beginning of the driving season is but a day or two away.....schplendid.

 

[firewalker99]

The charts follow the fundamentals with a significant lag...

I can definitely understand why you're in the "short this market"-mindset.
Let's agree to disagree hehe

Should be an interesting discussion (but not suited for this thread), between the proponents and the opponents of FA/TA. Does TA lead FA or vice versa? Didn't we have such a discussion some time ago?

 

[firewalker99]

My thoughts entirely....my shortin' finger is quivering. I'm thinking that that the US will open perkier & carry it though going into the housing figures....I then hope to short the DAX north of 7750 cash.

I see oil has recovered its earlier losses...memorial day weekend & the beginning of the driving season is but a day or two away.....schplendid.

Before a holiday weekend I would expect even more buying (well not really buying, but closing positions of short-holders) in this kind of market. Obviously not something airtight

PS: no trades for me until figures are out

 

[Atilla]

I can definitely understand why you're in the "short this market"-mindset.
Let's agree to disagree hehe

Should be an interesting discussion (but not suited for this thread), between the proponents and the opponents of FA/TA. Does TA lead FA or vice versa? Didn't we have such a discussion some time ago?

That's the hammer on the nail.

However, I am converting and trade more on the charts and indicators.

I try and avoid major news time periods.

I suppose you might say the trend is definately up. We are at the top and my high probability receptor tells me markets impending fall is a better risk reward ratio than continued rise.

No fruit cake just my view.

 

[firewalker99]

wow!

up 70 points... 14000 here we come!

Anybody who had a long BEFORE the news? You can buy us a drink now

 

[2468steve]

Dow is on steroids ......SPX and NDX not participating in this move

 

[Atilla]

Dow is on steroids ......SPX and NDX not participating in this move

Can someone explain how or why it touched 13600 and dropped back down again?

I'm not in the market just watching. Guessed housing stats would be reasonable.

Otherwise I'm looking at pinochios nose on the 1 hour bar charts.

 

[lurkerlurker]

I've just checked the charts - amazing! I feel a little bad missing out. Will put on a trade IF and only IF my indicators line up!

Best of luck to you all.

 

[firewalker99]

first trade

ok it was with a limit order
but I am (risky) long now from 13540 futures (around 13520 cash)

 

[Atilla]

Hmm. Some analyst on Bloomberg suggesting Fed will cut rates if unemployment looks like rising.

Well DOW may still get that shot of steroids.

 

[lurkerlurker]

Long 37 cash. Stop 16. Entered on S/R zone, RSI out of oversold, bullish DEMA cross.

 

[firewalker99]

Can someone explain how or why it touched 13600 and dropped back down again?

The market discounts the news. Always.
It just happened sooner rather than later this time.

 

[firewalker99]

ok it was with a limit order
but I am (risky) long now from 13540 futures (around 13520 cash)

exit first half at +25

 

[2468steve]

Well,the SPX and NDX gave the heads up today...30 yr bond breaking below support at 109 has spooked evryone and suggests long term rates rising.....that turns those housing numbers into a negative....

cheers

 

[Hook Shot]

I'll be waiting for housing stats and then watching a while.

Looking to short unless there is some good news ( which I suspect ) and a determined surge forward.

We may have had a fill of lows aroung 13500.

You could be right about 500 ... this pbk may have allowed spx to test 1515 and having done that well who knows since the 1530spx level "looks" a bit like a concrete lid near term.

Edit perhaps I'm giving too much credence to 1515 after all it only held spx back for a little while.

 

[lurkerlurker]

Stopped out. -21.

I had a profit of +9 at one stage.

 

[firewalker99]

second trade

ok it was with a limit order
but I am (risky) long now from 13540 futures (around 13520 cash)

the first half of that was out at +25
the other at breakeven...

but I am long again long from the same level

Edit: and stopped out -10
Net +15 and talking a break.

 

[lurkerlurker]

Limit long from 23.

 

[Atilla]

You could be right about 500 ... this pbk may have allowed spx to test 1515 and having done that well who knows since the 1530spx level "looks" a bit like a concrete lid near term.

Edit perhaps I'm giving too much credence to 1515 after all it only held spx back for a little while.

In anticipation of a failed resumption to H & S neckline on the 10 min charts I have shorted the DOW. Stared at it all the way down from 13550. Doh...

Short @ 13517. SL @ 13547

Target - somewhere over the rainbow...