Dow 2007

[mark twain uk]

dax broke 7800... 8000 here we come

YM is at resistance now, so I would consider a short there, but consider today's strength I'm not going to do it, because I think there's less potential

8000 does not sound any different from 7800, considering that only 12 weeks ago it stood at 6430, but I remember a seminar by Stve Nison in which he said that you never get more than 11 white candles, this is going to be the 12th week (well, one of them was a small red spinning top and another an almost doji, but the overall picture is the same, a pull back has to happen at some point)

 

[firewalker99]

keep an eye on Dax gap from march 2000 at 7859-49....never been filled


cheers

thanks, is this the gap you are refering too? seems bigger than just 10 points?

 

[firewalker99]

...'fundamentals' probably don't support 8000 - but then again, markets defy any logic nowadays

funda-what?

 

[free4440273]

What happened to that sell-off mt, are you still in? I am. Help!

...if it's any consolation, i am short dow september futures at 13727

 

[tricks]

short 69 cash - stop +25

bad move? stop increased to +45

added to short at 93

 

[free4440273]

funda-what?

what-mental?

 

[2468steve]

thanks, is this the gap you are refering too? seems bigger than just 10 points?

that's the one.......I was taking it off the cash tho'....that's the future ?


cheers

 

[lurkerlurker]

Am I the only one not making oodles of pips out of this pretty obvious phase of the market?

 

[2468steve]

can SPX get a close above 1527.11.....would set up an attempt at all time high 1553.11....amazing


cheers

 

[2468steve]

bought 2 x binary ahead of FOMC on Dow to touch 13620 and 13420....13620 @ 6 and 13420 @ 5.7...........made up 94pts.....luv this volatility...

 

[firewalker99]

Am I the only one not making oodles of pips out of this pretty obvious phase of the market?

better not to make money than to lose it... plenty of examples of shorters out here! :|

 

[firewalker99]

that's the one.......I was taking it off the cash tho'....that's the future ?


cheers

indeed that's the futures contract

 

[stevechelt]

Am I the only one not making oodles of pips out of this pretty obvious phase of the market?

Nope, I'm also paper-trading, currently up 100 pts from 13527 cash, 100 Monopoly money points! Of course, when I turn to real cash it suddenly won't be so easy methinks! This is an amazing upswing and I hope some of you are in the money

 

[firewalker99]

can SPX get a close above 1527.11.....would set up an attempt at all time high 1553.11....amazing


cheers

very likely... 100% extension

 

[firewalker99]

bought 2 x binary ahead of FOMC on Dow to touch 13620 and 13420....13620 @ 6 and 13420 @ 5.7...........made up 94pts.....luv this volatility...

and the winner of the day... steve! well done mate, 94 points!
I'll settle for second with 78

 

[mark twain uk]

Hi folks,

I just went short on dow, spx and dax, all cash, I will add if there is a spike up at 7pm, when the fed minutes are released, and after that I will be in the hands of gods, either there will be a sharp reversal or we will see a trend day with at least another 50-100 points rally into the close.

Anybody else thinking what I'm thinking?

Edited: I actually got 13,541, 1521.1 and 7778, all cash.

It turns out that the second scenario played out, we had a trend day, a rally of 200 points from the low at 1509 tp 1529 spx cash, I am sitting on a sizeable loss, I will let all positions open over night, but with stop losses 50 points above the top, just in case. Tomorrow could be a down day, in which case I will look to get out at breakeven, or the rally will continue in which case I will get stopped out.

 

[2468steve]

very likely... 100% extension

indeed...like a moth to a flame ..

 

[hobby]

Ok, so it's a Dow thread....but fwiw just shorted DAX @7818 (cash).

Would be quite comfortable entering at this level, except you watch the CSI 300 go & bounce back tonight which will simply pour fuel on an already out of control fire first thing in the morning.

As is so often, these mkts ignore the bad news (when not convenient!) & yet focus in on the same news when it turns positive (eg oil)

 

[2468steve]

and the winner of the day... steve! well done mate, 94 points!
I'll settle for second with 78

I always dabble on binaries ahead of Fed....I think you take the honours FW....yours was proper trading........

 

[mark twain uk]

The dow closed at yet another all time high, the spx did not quite make it, I am quite comfortable shorting at these levels, the risk/reward is good, I made good profits over the last drops, especially last Friday, one is bound to have a bad day, even if if goes up a bit higher it will come back to these levels, if anything to retest the previous resistance.