Dow 2007

[Dinos]

Spanner in the works, will sit and wait for further opportunities

 

[Kinger]

I'll believe that when I see it ! lost to much trying to anticipate lately ..

 

[stevechelt]

Hi Dinos, what charting software do you recommend to show the TRIX signal you mention?

I am a newbie, having been paper-trading the DOW for a while now and placing the odd spreadbet on obvious moves, and am looking for good (but relatively simple) advice on daytrading the index! I've already experimented with the swing-trading (if that's what it's called) systems of Dowtrader and Dowstomper and am looking at the MarketVolume charts which seem pretty good with the right settings. (They indicate a reversal must be imminent, just as it touches 13200!)

Many thanks for any advice, Steve

 

[Dinos]

BD Standard Pivot R3 13234, R2 13201, R1 13168 P 13105, S1 13072, S2 13008, S3 12975.

Hi Steve. I use Stockcharts.com for the American Market, superb system, you can use it for free with weekly and daily charts with limited indicators, for a small fee (about £15 per month), you get real time charts down to 1 min and unlimited indicators.

Glad to be of help

 

[Dinos]

fwiw, Crossover on MACD, TRIX, ema heading towards crossover, will post when I trade

 

[brutusdog]

great thanks r2 tested and now waiting for move away to short...

 

[Dinos]

No Probs, Price action now moved from sub ema (8) to above, putting up a good fight

 

[Atilla]

great thanks r2 tested and now waiting for move away to short...

Hi guys,

I'm expecting bit of a melt down today, so to see it rise I'm thinking it's going to drop lower towards latter part of the day - unlike last couple of days.

How ever I'm not in the markets at the mo and I'm not 100% (obviously:cheesy: ). Will trade the charts.

As expected yesterday, towards the latter part of the day the DOW comes in and pulls up the SPX and what is the big fat good news - Bid for a piece of newspaper that's over rated and valued already. But in the wisdom of some analysts you need the infrastructure in place to provide online content and it's good value. Yeah right? There you go, here is my money - take it and btw thank you so much...

Basically, most news services are strugling with advertising and sales as most newspaper providers are having the same problem. What is Murdoch's plans well I'm sure he knows but the impact on the DOW and indeces is propestrous. Dot com boom comes to mind on the valuations:idea:

I'm a big bad cheesed off greasly bear still waiting to come out of hibernation.

 

[Dinos]

A sit a wait day, all ppointing upwards again, over R2, I cannot go long at this level, sit and wait for me now

 

[nkruger]

have you done pivot calcs for today? i havent worked them out yet been to busy.

cheers bd.

Good afternoon BD - sorry to interupt the thread on today's Dow ups & downs but I've been developing an interest in Pivot Points and I was wondering if you (and any other members) are having particular success in using them in a particular way day trading the Dow ?

NK

 

[stevechelt]

Thanks Dinos, I will look at Stockcharts.com. The marketvolume chart has now swung back, looking rather bullish.

 

[brutusdog]

yep i'm on the sidelines too. am going to do something else for a bit and will check in later. all the best..

 

[Dinos]

NKruger, I look at pivots, but generally don't pay to much attention to them.

Steve, worth a punt at stockchart, even for 1 month, I think you will like if you want to trade the DJIA, very easy to use, and very clear charts

 

[Dinos]

BD, if you are still around, don't go just yet, conditions just building to get a short (Hopefully),

 

[smccreedy]

I don't want to hide away so I'll let you all know I'm still short the Dow, it was one of those cases that the rise took me by surprise at which point it didn't seem worth exiting as it 'had' to come back at least a little.

It has softened if only a fraction hourly RSI really doesn't back today's move in my experience this means pull back although divergence can go on for some time, a lot longer than you hope when you're in.

My problem really is that I just don't feel I want to be buying or covering shorts at these levels, I may well be proven wrong but I'm in the smallest I can (one YM) and around 90-100 points out of the money on it since selling late in the session yesterday.

I need to get me a daily indicator to take this 'stress' out of it.

For a while I wouldn't short if it was above the daily 9sma or go long if it was below it and in the main I have to say that did quite well for me.

Anyone here use a daily filter to decide what there daily bias is?

Stephen McCreedy

 

[brutusdog]

nkruger,

I normally make a note of them (pivot points) and am just more aware of price around these levels, especially if it coincides with the 100 period ema or a recent high/low top/bottom. also where the weekly pivot lines up with daily this can have more meaning.

still on the sidelines waiting...

 

[hornblower]

I don't want to hide away so I'll let you all know I'm still short the Dow, it was one of those cases that the rise took me by surprise at which point it didn't seem worth exiting as it 'had' to come back at least a little.

It has softened if only a fraction hourly RSI really doesn't back today's move in my experience this means pull back although divergence can go on for some time, a lot longer than you hope when you're in.

My problem really is that I just don't feel I want to be buying or covering shorts at these levels, I may well be proven wrong but I'm in the smallest I can (one YM) and around 90-100 points out of the money on it since selling late in the session yesterday.
ps still long


I need to get me a daily indicator to take this 'stress' out of it.

For a while I wouldn't short if it was above the daily 9sma or go long if it was below it and in the main I have to say that did quite well for me.

Anyone here use a daily filter to decide what there daily bias is?

Stephen McCreedy

hi mc

I use a 15 min chart and a tunnel , 18 & 28 ma
only when the price crosses the tunnel is it a buy or a sell

also I use a 40 ma , you would be surprised how often its there at the turning point have a look at the forx factory, I use the same chart for everthing

 

[stevechelt]

Dinos, do you only exit when the ema crosses back over, or if the macd or ema crosses, whichever is first?

I am also embarrasingly short on £1/pt from Friday and now over 100 down, should have exited y'day, could not believe it would go higher! Seems to be as unsinkable as the Titanic.

 

[Ziff]

Brutusdog, I use the MACD histogram to see possible change of direction, and use the MACD crossover and TRIX as a warning an entry may be available to me soon, I enter my trade when my ema 8 crosses my ema 21 and keep that position open until the ema 8 crosses the ema 21 again in the other direction. Rather simple really, works great on the DJIA and Nas, have used this for years and allows me stress free
trading.

Hi Dinos,

I use a 7 and 20 ma cross..........which does the bizzo for me; what time frame do you use ?

 

[hornblower]

still long on the dow