I'm afraid I had to shut it down at 9.12pm cos there was a little bounce and couldn't bear (sorry) to see my dosh slip away.... but wanted to take it to close....😆
The stars all lined up ... dow overbought (by my peculiar measure).... barclays looking like **** friday night .....and going into the "27th" - 6m since the crashette ...
Perhaps, traders should remember 27th of month ... funny things have happened this year on that date (tradingwise) .. although the lads shifted it to 26th in july and this month tried to fool us again by making it 28th in Aug... 😆
I actually feel a bit sorry I did not carry it through tonight ... but this time I wanted to post the runs on the board - a bird in the hand etc.........
shortorlong
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nice trade!
but can you explain what you mean by remembering the 27th? how are we supposed to remember it when it does not land on the 27th? 😆
Markets timing is not an exact science .......
Cheers shortorlong
27th give or take.... but I think you probably knew that ....:cheesy:
Cheers shortorlong
Boring I'm afraid........
Dax to my style is very difficult to play... the big short opp has gone a while back so my only sensible option is to wait for the long opp between here and the big lows 17th Aug.
I may take a small short if we get a failed rally this morning but the sensible thing (for me) is to wait for the long play sometime this week (? ) Therefore, I'm scanning like mad trying to find some "other" opps wiilst I'm waiting...
Sorry bit boring 😀
Dax to my style is very difficult to play... the big short opp has gone a while back so my only sensible option is to wait for the long opp between here and the big lows 17th Aug.
I may take a small short if we get a failed rally this morning but the sensible thing (for me) is to wait for the long play sometime this week (? ) Therefore, I'm scanning like mad trying to find some "other" opps wiilst I'm waiting...
Sorry bit boring 😀
Pat494
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Only yesterday we were talking about stop-losses !
I dont know of any spreadbetter who will give a trader a trailing stoploss This is basically their golden card to make profits.
Yesterday for instance I was well in profit on the CAC and Nikkei Sep futures but got stopped out on both this morning. It leaves me wondering whether
1.I made the stops too tight and got stopped out early or
2.should I have had wider stop losses and risked more profits evaporating.
3. I have even contemplated not having a stop loss except a mental one after the sessions trade, which could be very expensive.
I dont know of any spreadbetter who will give a trader a trailing stoploss This is basically their golden card to make profits.
Yesterday for instance I was well in profit on the CAC and Nikkei Sep futures but got stopped out on both this morning. It leaves me wondering whether
1.I made the stops too tight and got stopped out early or
2.should I have had wider stop losses and risked more profits evaporating.
3. I have even contemplated not having a stop loss except a mental one after the sessions trade, which could be very expensive.
Pat494
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As it happens Dow is now at 13152 - the stops weren't tight enough and a big chunk of profit disappeared down the pan.
Last Thursday I had a short signal for the Dow and got stopped out at 100 points stop only to see it plummet Friday and yesterday. AH ............no easy task and probably only possible to follow one's plan and hope. Taking a few hits now and then.
Pat494
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counter_violent
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Bloody quiet on this thread today...hope it was'nt something I said !!
cv
cv
shortorlong
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There something wrong .. very wrong
Sub-prime credit crisis seems to be drifting slowly off into the sunset as stockmarkets stabilise.... after fed hoses liquidity into the system...
Wise men talk of Fed embarking on a course of rate easings to avoid a recession (but not a pronounced slowdown). They say rate eases will give new life to stocks which will anticipate a better future many months ahead....
It all seems like Alice in Wonderland ........ much ado about nothing... surely there has to be a sting in the tail ?.....or is it really time to accumulate rate sensitive stox ( particularly banks, housebuilders and property stocks) for the next bull wave... as rates crash ?
🙄 😕
Seems too easy ......... I must be missing something
Sub-prime credit crisis seems to be drifting slowly off into the sunset as stockmarkets stabilise.... after fed hoses liquidity into the system...
Wise men talk of Fed embarking on a course of rate easings to avoid a recession (but not a pronounced slowdown). They say rate eases will give new life to stocks which will anticipate a better future many months ahead....
It all seems like Alice in Wonderland ........ much ado about nothing... surely there has to be a sting in the tail ?.....or is it really time to accumulate rate sensitive stox ( particularly banks, housebuilders and property stocks) for the next bull wave... as rates crash ?
🙄 😕
Seems too easy ......... I must be missing something
Pat494
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The sub-prime thingy seems a bit like that children's game of pass the parcel. Some bank chiefs have really shown incredible stupidity in getting landed with the really hopeless borrowers. The idiotic ones may well have their banks taken over, like the one in Germany. Their directors may have to retire on the usual golden handshake ( a prison or back to school term might be more appropriate imho ).
Quiet without Lurker ! Didn't fall under a bus hopefully ?
Quiet without Lurker ! Didn't fall under a bus hopefully ?
Atilla
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False analysis imo.
Housing is the biggest multiplier in the economy. That is spin-off expenditure in carpets, white goods, curtains, diy, you name it it takes place.
So to say it's only 3% of the market is totally off mark.
When you buy a car or any other item, what additional expenditure do you have?
Also, the defaults are one end of a spectrum. Think about all the home transactions that don't take place. What % might they be.
The slow down is significant.
Now throw in the estimated $100bn loss (by the Feds estimate) and you have a mighty big problem in your hands.
IMHO - sub-prime market will definately effect rest of economy. Anybody who says otherwise are shovelling bull...
lurkerlurker
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The week I decide to take time off is when the range suddenly expands and we get a few great trend days. I think we could see another test of 13,200 today, as we are certainly not making any headway north (and won't be until 250/300 is breached).
Short side only I guess. (I'm not trading though).
Short side only I guess. (I'm not trading though).
Atilla
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Sorry, depth and strength of feeling should tell you I object to all the nonsense they dish out on Bloomberg. 😱 😡 😆
Time will tell.
Don't mean to offend. I appreciate the news is being passed on. Just sticking my oar in to present an alternative view. 😀
attilla, i didn't say i believed him ,i just mentioned his remark,he also stated all the homeowners in this country like his parents who dont have a mortgage,house is paid off,and 100 billion on 12-13 trillion in the market place doesnt seem that much,ive read your posts,i took no offense
