Dow 2007

[2468steve]

US Bonds are getting hit again.....there could be trouble brewing in that market....overlay chart of treasuries with Nikkei and shows remarkable correspondance...looks like Asians pulling out of $$ and going into their own markets..


cheers

 

[firewalker99]

short 13470 futures (September)

 

[lurkerlurker]

Had the chance to short at 73, but pulled the order. Not sure about this at all. We are in a range, and I need a breakout to be sure. Tick is fairly flat, the volume divergence isn't saying any more than it was last time...

Just overall not sure, so staying out. (thats a position, isn't it?)

 

[Atilla]

short 13470 futures (September)

Is there any reason why you prefer futures to cash orders FW?

Just curious

 

[Dinos]

My 5 min set up starting to looking promising for a rise from here, pos div building macd, stochastics looking good, VIX spiked up to 16 during the 1st hour. holding out at minute for further developments

 

[lurkerlurker]

Interesting volume on the 5 min bars. Less lots changing hands as the price increases. That's not very bullish now, is it?

NYSE $Tick has just plummeted to almost -900, near LOD. Interesting. We have a downtrend accross the tops of $Tick bars, and volume. If I can sell at 70 I will.

short 13470 futures (September)

You stole my entry!

 

[firewalker99]

You stole my entry!

well you didn't want it
probably not such a good one anyway

 

[lurkerlurker]

Is there any reason why you prefer futures to cash orders FW?

Just curious

:idea: He trades the actual futures?

I prefer the futures because they have the same spread as the cash at TradIndex and my otFeed is the futures price (also, SB hedging is done in the futs, not cash, so I prefer trading closer to something they can actually hedge)

 

[lurkerlurker]

well you didn't want it

I've got another chance at it, and this is something like the 3rd time. I want it even less now!

 

[firewalker99]

Is there any reason why you prefer futures to cash orders FW?

Just curious

I wouldn't know how to trade off cash with IB....
All you cash-traders are probably spreadbetting I presume?

 

[lurkerlurker]

I've got another chance at it, and this is something like the 3rd time. I want it even less now!

Okay, my initial idea was correct. I was wrong not taking 71 when it was offered. Good entry FW- best of luck with the trade.

Just out of curiosity, what was your entry? My reason to short 70 was resistance holding, double top forming, volume divergence, tick failing to say above 250 for any serious about of time.

 

[Atilla]

:idea: He trades the actual futures?

I prefer the futures because they have the same spread as the cash at TradIndex and my otFeed is the futures price (also, SB hedging is done in the futs, not cash, so I prefer trading closer to something they can actually hedge)

Thank you LL.

I may try switching just to see if there's any difference.

Hold onto you hats now...

 

[lurkerlurker]

:idea: He trades the actual futures?

I prefer the futures because they have the same spread as the cash at TradIndex and my otFeed is the futures price (also, SB hedging is done in the futs, not cash, so I prefer trading closer to something they can actually hedge)

I wouldn't know how to trade off cash with IB....
All you cash-traders are probably spreadbetting I presume?

I had answered that for you you know! I'm glad I didn't take that short, even though I could close it for +5 at this precise time had I traded it. I don't see much downside from here, and I need a convincing break of 450 on volume to convince me otherwise.

 

[lurkerlurker]

Thank you LL.

I may try switching just to see if there's any difference.

Hold onto you hats now...

Switching? To TradIndex? I wouldn't touch the futs at CMC - 7 point spread!

 

[firewalker99]

Okay, my initial idea was correct. I was wrong not taking 71 when it was offered. Good entry FW- best of luck with the trade.

Just out of curiosity, what was your entry? My reason to short 70 was resistance holding, double top forming, volume divergence, tick failing to say above 250 for any serious about of time.

Basically I can't see much support on this level, other than a bounce off a round level (13450). Volume drying up, all candles seem to close around 13472, usually this pattern is a pause before we continue down further.

 

[Atilla]

Switching? To TradIndex? I wouldn't touch the futs at CMC - 7 point spread!

Sprad on cash is 4 and sept futures is 8.

What is it on TradIndex?

 

[2468steve]

looking at SPX for a minute...if it breaks Fri low @ 1487 sets up ABC down to 1462 ......high of Feb 1461........

 

[firewalker99]

short 13470 futures (September)

exit first half at 13450 = +20
(just in case this level holds), stop set BE, might leave other half open till EOD

 

[lurkerlurker]

Sprad on cash is 4 and sept futures is 8.

What is it on TradIndex?

TradIndex have 2 futures you can trade. A futures which expires 9pm daily (5 points) and a futures you can hold overnight until expiry, which is 11 points (I don't trade that one, although I don't think they charge you financing charges above the spread- I've not tried futures overnight so I wouldn't know). The cash price has a spread of 5 also.

The way I see it, I am getting daily dow for 5 points instead of 4, but on a price I have a RT feed for.

 

[Atilla]

Well the H&S is out for the time being.

I have support at 13310. This is 61% fib retrace on my 1 hour charts since the move up from the 8th.

If it doesn't get support then it will continue down imo.

DAX still holding 7650s...