Dow 2007

[Atilla]

This help your thought process lurker?

ym daily: some support around the 38.2 level, though there was a spike nearly down to 50

I'm short. I see this retracing to at least 50 and possibly 61% on your chart

Things can only get worse.

The markets not expecting a bounce until Autumn / October period. So still some way to go.

Also, this talk about the sub-prime market being contained is false hope. House purchases is the biggest multiplier in the economy. Whether they like it or not it will impact the rest of the economy. Time will tell.

Also, interesting house repossessions up 30% in the UK with current rise yet to feed in to those stats and possibly talk of another .25% prior to Xmas to cool sales.

In summary, Ouch...

 

[2468steve]

Normal service resumed by look of things........for those interested Dax currently quoted down 15 for Monday...not sure how long that'll last

 

[2468steve]

Dax still only down 20 for Monday....Dow off nearly 100 pts more since last post 20 min ago.....

 

[2468steve]

The SB guys may be looking at Dow still above it's lows from last week.....personally I'd say look at SPX...it's smashed it's lows....THEY'VE GOT IT WRONG !!!!!...LOAD UP LOAD UP

 

[free4440273]

long 13332

and exit 179. held out until the close, which was brave or stupid or both. have a great weekend folks {why am i smiling???}

 

[Kevin21]

hmm, made a nice little 170pts from posistion trading it today. Sold at 13350 on the 1hr graph and left it....

 

[lurkerlurker]

Got short at 8:30 into the close, out at 13220 or thereabouts. Will respond to other comments later - long day. Have a good weekend.

 

[Atilla]

The SB guys may be looking at Dow still above it's lows from last week.....personally I'd say look at SPX...it's smashed it's lows....THEY'VE GOT IT WRONG !!!!!...LOAD UP LOAD UP

Well 38% fib support has been trashed.

50% next on target.

13200 seems to be another strong support level for me.

Will look to see if that is breached. I reckon if 13160 goes that's it. All the way down to 13000 by end of next week.

If 13160-13200 holds then maybe we'll have a bounce to HookShots 13500 before another tank.

Play hard and work easy. Have a great weekend y'all now...

 

[2468steve]

Wife gets naked and asks her husband "What turns you on more,my pretty face or my sexy body? "
Husband looks her up and down then replies,"Your f***in sense of humour"...

Enjoy the weekend everyone.......

 

[Hook Shot]

I want a rally one that rips out 13500 sorry for the other bears but ........ I suspect more stuff will come out over the weekend about hedgies/banks etc with problems (thanks Steve) so I want to be well short going into Monday (at a decent price) :cheesy:

May not get what I want but that's what I really really want... a rally into the bell would be nice but wouldn't say no to a top around 8pm near 13550+ ... as if...

Father Xmas didn't give me everything I wanted but I'm happy anyway

8pm ? No top :cheesy: but I'll settle for a luvly little waterfall...........
As I thought ..... there was some trepidation about holding stox into the weekend.

 

[Hook Shot]

Everyone seems very "bullish" ........NOT

Some are talking about a 2d rally into "lights out" on Friday .. all because of a little double bottom....

I hope they're right....

Bullish my Arsenal ......!!!
When will they learn ?
Throw away comments like Wed low should hold for a few days or weeks..... by a few serious TA's was wreckless... I go with the Bill McLaren thesis that if one day countertrends are all we can muster then we're STILL in a fast move down. This meant Thurs lows had to hold to prevent another one day countertrend set up .... it didn't and the fast move continued ......


For clarity...TraderTom was looking for an up move into Friday/Monday ...... to set up big shorts.


Bill McLaren
http://www.mclarenreport.com.au

Check out the free Cnbc reports to get a idea of his methodology ...... rather than his calls but those are not bad either... at least over the last few years anyway..

 

[Hook Shot]

Far be it from me to clash with a Legend but.....

The SB guys may be looking at Dow still above it's lows from last week.....personally I'd say look at SPX...it's smashed it's lows....THEY'VE GOT IT WRONG !!!!!...LOAD UP LOAD UP

That sharp rally in futs just before the close of futs trading.... maybe what the sb lads were responding to ? Could be wrong of course.... often am....

Gann Tmers were also looking @ Aug 3rd as potential turning point ... lets see.......

 

[2468steve]

Things must be getting bad if Cramer is panicking...watch this video,I think he may be having a breakdown......Nurse,tranquilizers please !!...

http://www.cnbc.com/id/15840232?video=452808336

 

[shortorlong]

Things must be getting bad if Cramer is panicking...watch this video,I think he may be having a breakdown......Nurse,tranquilizers please !!...

http://www.cnbc.com/id/15840232?video=452808336

emotions are .. er .. in .. I guess ... from a former hedge fund manager
I wonder if he is short though

 

[Atilla]

Things must be getting bad if Cramer is panicking...watch this video,I think he may be having a breakdown......Nurse,tranquilizers please !!...

http://www.cnbc.com/id/15840232?video=452808336

He is fundamentaly wrong.

The problem was low interest rates in the first place. Once again only and THE ONLY solution to US problems are:

1. Raise taxes
2. Keep rates as they are or reduce providing they are done with higher tax rises!

Have to be done similtaneously with the objective of balancing both budgets...

Guy has lost the plot. Doesn't have a handle on the situation just like the Fed.

Price movement alway 100% right.

 

[Hook Shot]

Pure Gold

Things must be getting bad if Cramer is panicking...watch this video,I think he may be having a breakdown......Nurse,tranquilizers please !!...

http://www.cnbc.com/id/15840232?video=452808336

:cheesy:

 

[Hook Shot]

U pays your money ....

Plenty of caveats unsurprisingly but ....... his roadmap has been pretty sound over the last few weeks...

http://www.decisionpoint.com/ChartSpotliteFiles/070803_bottom.html

All hinges on whether we have started a BEAR (unlucky) market or not.......

 

[fibonelli]

Well, in the case of Mr C "emotions are in and bears are out... and about"!

I don't trade the indices but instead review a small selection over the weekend as homework.

The charts I use are showing signs of momentum divergence and OBV divergence (highlighted in yellow)in the DJ30, S&P500 and Nas Comp.

The Dow shows a similar price pattern when you compare to the March waterfall (highlighted in light blue) to the latest waterfall. If this pattern plays out, I would envisage a hammer type formation with an intra day low of between 12966-13033 tommorow (6 Aug 2007). If not, it could be a bears picnic........

enjoy

 

[lurkerlurker]

Well, in the case of Mr C "emotions are in and bears are out... and about"!

I don't trade the indices but instead review a small selection over the weekend as homework.

The charts I use are showing signs of momentum divergence and OBV divergence (highlighted in yellow)in the DJ30, S&P500 and Nas Comp.

The Dow shows a similar price pattern when you compare to the March waterfall (highlighted in light blue) to the latest waterfall. If this pattern plays out, I would envisage a hammer type formation with an intra day low of between 12966-13033 tommorow (6 Aug 2007). If not, it could be a bears picnic........

enjoy

Thanks for the post, but to my lay eye that chart looks like a kid drawning on a blackboard. Sorry. Any chance you could post a less complicated chart which still illustrates your point?

A hammer formation? Very interesting. In other words, there could be a buying opportunity around 13000 when it holds? Of course, if 950 / 12850 goes.....

 

[Hook Shot]

The SB guys may be looking at Dow still above it's lows from last week.....personally I'd say look at SPX...it's smashed it's lows....THEY'VE GOT IT WRONG !!!!!...LOAD UP LOAD UP

Sorry Batman my mistake dow 13132...........