Dow 2007

Hook Shot said:
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 got the pre-US rally to 950ish and then slumped to sub 916 :cheesy: all before 1030am uk time. Magic.

The message is the same as last night's in that we are watchful in case of an intrade move sub 916 for LL .... etc...

I would add that my "obvious" target of 12800ish is for a multiday move down (more than one) rather than a prediction of a move to that level today :!:

Hope you caught the ride this morning Pat :D
 
Hook Shot said:
Hope you caught the ride this morning Pat :D

Hi Hookie,
Yes my overnight short has paid off !!
And I'm staying in for the time being
 
oops there is a bit of upside to the Dow future - maybe I should have grabbed a small profit while it was on offer ! Still in for a short atm.
 
Time to exit my short imho
My Nasdaq long from yesterday is doing well though
 
I'm now starting to think we will only get a peek-a-boo move sub 916 and recovery ....... this happened a lot last week.......... Hope i'm wrong but have to consider all sides of the argument.
 
Hook Shot said:
I'm now starting to think we will only get a peek-a-boo move sub 916 and recovery ....... this happened a lot last week.......... Hope i'm wrong but have to consider all sides of the argument.

Housing stats if poor will dwarf AT&T good results.

Due at 2:00 GMT.

Hold on I'd say.

Having said that I hate the announcements of news and being in the market... Traders can be so irrational... :devilish:
 
On the 1 hour DOW30 charts there is the reverse double pin par setup that is much touted by Oscar the charismatic trader on youtube...

Price has broken below MAs and Standard Error Channel pointing down .

Looks awfully bearish to me. I feel a short tingling on my finger tips... :cheesy:
 
Sorry have to disagree At - the retracement has just happened imho and now up following the Nas
 
Pat494 said:
Sorry have to disagree At - the retracement has just happened imho and now up following the Nas

All great fun...........my view is to the short side at the moment................

Not taken anything yet tho'
 
Me read somewhere today that Dow is likely to take large move downward on thursday. 15% was figure suggests. Is this going to be so?
 
Ziff said:
All great fun...........my view is to the short side at the moment................

Not taken anything yet tho'

Nice to have a view even if it is different. Would you care to elaborate ?
 
mkt pretty resilient so far in face of poor housing figs..looks like mkt likes idea of rate cuts? (dollar also falling)
still think a move above 13k sooner rather than later - for a less risky short...
 
81supertrader said:
Me read somewhere today that Dow is likely to take large move downward on thursday. 15% was figure suggests. Is this going to be so?
Anything's possible
 
Hook Shot said:
Anything's possible

Move down is well and good but how is it that oil is still so strong?

Euro & Cable rising. Dollar is falling but gold is stuck at 690 :rolleyes:

There is no logic to these markets but who cares as long as the pips keep coming home to roost. :LOL:
 
Atilla said:
On the 1 hour DOW30 charts there is the reverse double pin par setup that is much touted by Oscar the charismatic trader on youtube...

Price has broken below MAs and Standard Error Channel pointing down .

Looks awfully bearish to me. I feel a short tingling on my finger tips... :cheesy:

Your tingly bits are certainly right this time lol
 
Atilla said:
Move down is well and good but how is it that oil is still so strong?

Euro & Cable rising. Dollar is falling but gold is stuck at 690 :rolleyes:

There is no logic to these markets but who cares as long as the pips keep coming home to roost. :LOL:
Too much too much Atilla I can only do one trick at a time.. :cheesy:
For those who are or want to be bullish near term - DAX looks interesting (saw it down over 100pts at one stage)......

Edit : Atilla, missed your comment about pips keep coming home to roost spot on!
 
Hook Shot said:
Too much too much Atilla I can only do one trick at a time.. :cheesy:
For those who are or want to be bullish near term - DAX looks interesting (saw it down over 100pts at one stage)......

Edit : Atilla, missed your comment about pips keep coming home to roost spot on!

Thanks guys, yes they are and have just locked away some more.

I did short oil too and now oil has just dropped below 66 and into profit zone.

I've closed position on S&P and taken my pips.

As for gold it's now 686 which is a singal that the $ is strengthening (for what ever reason) and so I've just shorted cable again based on gold falling.

But you know imo when they confirm the market moves in harmony it endorses the strength of the move as being a fundamental shift rather than being based on the whims of traders and one instrument imo.

Over all short on Euro (at a loss at the mo).
Short on cable and
short on oil.
SPX closed (SPX & DOW not much difference to me :eek: ).

Looking to short SPX & DOW again. But will take a breather and reasses the moves. :)
 
Pat494 said:
Your tingly bits are certainly right this time lol

Pat, this is based on Oscar's double pin reverse chart pattern.

I traded it based on his videos.

Well it certainly worked. I entered the trade at 1480.4.

This chart is almost a sure bet when I look back with the benefit of hind sight.

1. Double pin bar reversal - usually good for two time periods before it turns...
2. BB break out.
3. MAs pointing down
4. Parabolic SAR switched to down
5. Standard Error Channel in down trend with top resistance in tact

The only sad part of it was I didn't get out at 1472 but at 1475. That's being too greedy.

Also, the double pin bar reversal can be seen on the hourly charts for both DOW & S&P. Isn't that just great. :LOL:

ALL CREDIT TO OSCAR. I'll have to write him a thank you note I think.
 

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Congrats At.
Just had a look at Oscar's page. Looks interesting. I will read a bit more later. He seems to be making his forecast available for free ? Target 1484 !
 
Atilla said:
ALL CREDIT TO OSCAR. I'll have to write him a thank you note I think.

Well, if you do...be sure to tell him that your 'emotions were out' & your 'stops were in'. :cheesy:
 
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