Dow 2007

[black bear]

All yours mate, Im not interested

Ftse fine for me today trade the rumour sell the news

Andy

should have sold it

Curry was nice , my spike tomorrow

 

[black bear]

That bit

long ES 1537.50 FUT

visualize what could happen today and try to establish where I'd like to be and what could be the "right" side of the market.

Looking good

your slippers must be attached with super glue

Andy

 

[lurkerlurker]

25bps cut - right on consensus. Did anyone sell the 50% retracement at 13866?

Volatile times, but not much volume compared to the last FOMC.

 

[lurkerlurker]

Press Release

Release Date: October 31, 2007
For immediate release

The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 4-1/2 percent.

Economic growth was solid in the third quarter, and strains in financial markets have eased somewhat on balance. However, the pace of economic expansion will likely slow in the near term, partly reflecting the intensification of the housing correction. Today’s action, combined with the policy action taken in September, should help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and promote moderate growth over time.

Readings on core inflation have improved modestly this year, but recent increases in energy and commodity prices, among other factors, may put renewed upward pressure on inflation. In this context, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully.

The Committee judges that, after this action, the upside risks to inflation roughly balance the downside risks to growth. The Committee will continue to assess the effects of financial and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Donald L. Kohn; Randall S. Kroszner;
Frederic S. Mishkin; William Poole; Eric S. Rosengren; and Kevin M. Warsh. Voting against was Thomas M. Hoenig, who preferred no change in the federal funds rate at this meeting.

In a related action, the Board of Governors unanimously approved a 25-basis-point decrease in the discount rate to 5 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York, Richmond, Atlanta, Chicago, St. Louis, and San Francisco.

(source)

 

[firewalker99]

long 13800 fut (with severe slippage unfortunately!)
picking up the spike


edit: used a market order and got filled at 13815

exit dow 1/2 position at +70
exit ES 1/2 position at +8

 

[Hook Shot]

We've seen this all before......

.......... those who don't learn from history etc etc..........

Steve
Great post yesterday about abolition of trading curbs ......... why don't they abolish car seat belts and car braking systems and speed limits whilst we're at it......

 

[firewalker99]

out dow 13970 = +150

out ES 1553 = + 16



edit -> should read 155... messed up in the calculation because of all the excitement

 

[lurkerlurker]

I was too gutless to buy the bottom. I'm not supposed to be intra day trading anyway. FW - thanks for linking your journal - I'll need to read that over a few cups of coffee on a rainy Sunday.

 

[firewalker99]

I was too gutless to buy the bottom. I'm not supposed to be intra day trading anyway. FW - thanks for linking your journal - I'll need to read that over a few cups of coffee on a rainy Sunday.

I thought why not add it to my signature... in case anybody sees me making points on more than one occasion they might think it's all that easy. But it's not and it cost me a lot of time (and money) before I got the point where I am now. Enjoy the read, the coffee will be much needed

 

[firewalker99]

For lurker (and anybody else who might be interested in my entry&exit)

You will probably remember the system I've shown you some time ago (buying PDL, selling PDH, etc...)

just for old time's sake

have a look at where the candles close... none close below the line of the previous day low

as for the exit, there's that wide range body that closes well off the highs
even without volume all of this is fairly easy to notice

just my 2c

 

[shortorlong]

You will probably remember the system I've shown you some time ago (buying PDL, selling PDH, etc...)

just for old time's sake

have a look at where the candles close... none close below the line of the previous day low

as for the exit, there's that wide range body that closes well off the highs
even without volume all of this is fairly easy to notice

just my 2c

solid gold Firewalker thanks ..

 

[black bear]

Great trade, good tunes played on old fiddles

You will probably remember the system I've shown you some time ago (buying PDL, selling PDH, etc...)

just for old time's sake

have a look at where the candles close... none close below the line of the previous day low

as for the exit, there's that wide range body that closes well off the highs
even without volume all of this is fairly easy to notice

just my 2c

WOW :!: looks just like Linda_Bradford_Raschke method, and I thought it was top secret.

I bagged all the ftse range today using the same method, of course I did"nt get a heart attack getting mine:cheesy:

So thats what a large range candle looks like

WOW

Impressed , I don"t need glass"s to see that FW

Great trade and excellent execution if I might say so of that age old and excellent method

just my 2 bobs worth

 

[firewalker99]

I went long on the close tonight, holding for 2 to 3 days.

so did you take profits last night? although we are now (premarket) at 13800 while we missed 14000 by a mere 5 points yesterday?

this is why I don't like swing trading...

intraday trading makes me buy or sell multiple times at the same level taking profits along the way... so I went long again today at 13790 fut just 5 minutes ago. But I'm out for the rest of the day so I won't be able to monitor my position, but stops are in place and target 13840

looks pretty weak though...

 

[Hook Shot]

.......... those who don't learn from history etc etc..........

Steve
Great post yesterday about abolition of trading curbs ......... why don't they abolish car seat belts and car braking systems and speed limits whilst we're at it......

No big surprise....... as I said we've seen all this before....
Didn't expect reversal so quickly though...

A little explanation : - The world's money markets are in a mess nothing new ,
Oil at record highs but we've got used to it.... insiders big and small are telling us plainly to be careful....... yet the charts keep rising... and shrugging it off......... this is not meant to happen ......

Something is amiss ........ but yes there are still short term trading opps so I'll shut up

 

[Hook Shot]

One last thing........

Steve.......called a move on Citigroup to $39 a few weaks ago ( when it was approx $45)

Well done mate - I thought it was a tad too bearish at the time but hey ....

 

[laptop1]

so did you take profits last night? although we are now (premarket) at 13800 while we missed 14000 by a mere 5 points yesterday?

this is why I don't like swing trading...

intraday trading makes me buy or sell multiple times at the same level taking profits along the way... so I went long again today at 13790 fut just 5 minutes ago. But I'm out for the rest of the day so I won't be able to monitor my position, but stops are in place and target 13840

looks pretty weak though...

I got out with 70 points give some profit up. Im thinking of going long again here at13,365

 

[dc2000]

trading curbs in effect, will stop selling at 676 and sell hard later in the afternoon

 

[Hook Shot]

Life is a Beach.......

Dc greetings

------------------------------------------------------------------------------------------------

I 'll tell you why I'm so angry - it's because I was up late last night picking out possible shorts in US financials to put on today ...yep got my 3x5 cards here mutli coloured too...

........ and all I have to show for it is a dow short and a bit of a ftse short frown: )

 

[dc2000]

Hi Hook
DC is in the states at the moment , I posted the above for him, he says to say HI and will be back before Christmas

 

[Pat494]

Still waiting for support ( bottom ) that will hold

What a panic over oil at $96 a barrel. If you-know-who attacks Iran it will be well over $200 and not for the short term. Think what that will do for the markets !!
The mind boggles