firewalker99
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firewalker99
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firewalker99 said:One hour later...
Volume really dropping off, it's going to happen soon now!
and down it is!!
29Investments
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Pat494 said:Out from my long just in time. Only a small retracement imHo ?
I'm short looking for 12740 at least
firewalker99
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29Investments said:
12740? you have to be kidding?
or what time frame are you trading from?
29Investments
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firewalker99 said:
Sorry should have said. Thats my target fot this week, not for today.
firewalker99
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firewalker99
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exits?
I already exit half of that short ... +25... it's coming back up now
I already exit half of that short ... +25... it's coming back up now
Pat494
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Apparrently the causes of this sudden drop were higher oil prices - nearly $68 and the chaos in Nigeria.
There may be a bit of strength in the Nasdaq though which shoud pull up the Dow etc.
Maybe you got a winning system there At - shorting up channels !
There may be a bit of strength in the Nasdaq though which shoud pull up the Dow etc.
Maybe you got a winning system there At - shorting up channels !
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firewalker99
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Pat494 said:
That's if you believe the news
I'm holding on to the second part of my short... leaving it open till the market closes...
Atilla
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firewalker99 said:That's if you believe the news
I'm holding on to the second part of my short... leaving it open till the market closes...
That was a pleasant suprise to come back to... I've closed my shorts and locked away my pips. Will watch the bounce and the news. May short again but will see.
I too think a drop is long over due but was expecting it to kick off in May or towards the end of this week.
Standard Error Channel would point it to drop all the way down to 12,600. Fib 61% retrace says 12650 regions.
I have 11711 pencilled in my book but that seems to be in the far distant horizons at the mo. :cheesy:
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Not sure of the value of this comment.... but we are desperately in need of a lower daily low - i.e we have not broken the previous days low for a while.... so a LL may be around the corner - especially with dow closing near lows of 916 - so once again I'm looking to take advantage of any overnight/pre-US rallies...
We are due a down bar.... obvious target is 12800ish....
Hope if happens................. bears are getting hungry (near term) :cheesy:
We are due a down bar.... obvious target is 12800ish....
Hope if happens................. bears are getting hungry (near term) :cheesy:
Remember guys, all very well just looking at the DOW making all time new highs. The Nasdaq and S&P have not made all time new highs.
Dow had made all new time high
S&P........ 5% to go, untill all time new highs are hit
Nasdaq.. 160% to go, untill all new time highs are hit
Dow had made all new time high
S&P........ 5% to go, untill all time new highs are hit
Nasdaq.. 160% to go, untill all new time highs are hit
Atilla
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laptop1 said:
Hi Laptop,
Forgive me perhaps asking the obvious - what is the significance? Does this mean S&P and Nasdaq will also rise?
My understanding is that the Nasdaq leads rallies. I can only guess people are moving in to low beta shares perhaps because they anticipate slow down or tough economic condiditions.
firewalker99
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laptop1 said:
That's indeed worth mentioning.
The tech's should be the first to signal weakness and are in fact already doing that be not making new highs...
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laptop1 said:
You make a valid point (& one I was pondering on Friday). IMHO the Dax is a leading indicator for the Dow....
1. DAX recovered all its Feb losses & pusehed on to make new highs, then
2. Although lagging, the Dow has just done the same.... (for all the DAX's early sprint & divergence, I notice it has now more or less re-aligned with the DOW)
The S&P still about 60 points still to go (cant remember the exact number of points). You'd have to think in the light the DAX performed, then the Dow performed, in the absence of any new external shock that the S&P will have its moment in the sun too.
If that's the case, you can bet your bottom dollar that the DAX & Dow will be dragged up along with the S&P as it appoaches its all time highs.
Food for thought.
