Dow 2007

Here is a chart for my good friend Chump with lines :cheesy: . I'm embarrased to say I had about 20 or so here but deleted most of them remembering Chumps good advice so hope for me yet... I've left the most potent looking three lines - should be enough... :rolleyes:

I do think we are making lower highs and the rises are petering out. Listening to Bloomberg I feel like laughing my head off.
Click to expand...

Bloomberg.com video line up was pretty bearish last night ... Jim Rogers :LOL:
Not sure what to make of it ....
 
Hook Shot said:
Bloomberg.com video line up was pretty bearish last night ... Jim Rogers :LOL:
Not sure what to make of it ....
Click to expand...

I was laughing at Bloomberg because some pundits said there is no appetite in the market to let the DOW fall any further than it already has.

This was precisely my sentiment but I was thinking there is no appetite left in the market for it to rise any further...

I'm short again at 570ish
 
"seatbelts fastened and parachutes checked, to be fair target is within an edr and 280 if we carry forward"
 
DC2000

Not to question your wisdom, but could you expand, why you believe the drop you are stating and based on what information

Cheers
 
Drop to 288?

I can see a support level @13300 (ish) from Sept, I can see another support level that would need to be tested and broken before the 288 is hit, checked again, still cannot see why 288 is derived from, sorry.

This figure would mean a drop of approx 100 below the current MA34, with the weekly and daily MA34, 55, 100 pointing up.

I might be blind here, If you can enlight me/us rather than quoting a figure without justifying the claim.

Cheers
 
Sorry to be a stick in the mud and it might come back to poke me in the eye, I cannot see why the drop, I work on my own decision, but do consider others views, fwiw, I'm long from 13568
 
You're a brave man

Dinos said:
Sorry to be a stick in the mud and it might come back to poke me in the eye, I cannot see why the drop, I work on my own decision, but do consider others views, fwiw, I'm long from 13568
Click to expand...

I hope your courage does not go unrewarded ....
 
Hookshot

Sorry, don't understand why you would wish me luck, closed out for (+25), as the charts said long, I closed out on confirmation a a reversal, still cannot see a (+300) drop todday unless anybody can show me, where this is to happen
 
fwiw, imho, not a figure unsubstantiated, but S&R levels which are clear to see, high 600, low 446, for the 288 to be attained, we need a clear break of support level 446 to achieve 288
 
Just a harmless comment ...

Dinos said:
Hookshot

Sorry, don't understand why you would wish me luck, closed out for (+25), as the charts said long, I closed out on confirmation a a reversal, still cannot see a (+300) drop todday unless anybody can show me, where this is to happen
Click to expand...

Dinos - I was not querying your ability to make money as your trade had already broken even at the time of post. I know you swing with a heavy bat so I knew you would not stand on ceremony. :D
 
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Hi Mike

You say, you are expecting it to tank still, I'm flat at the minute and don't give a damn which way it goes, so long as I can get on board. I thought you used the hourlys to determine you trading, 4 & 3 Look perhaps to be bottoming out and 2 nearly , there, on many of these occassions, I have seen you call long positions, based on what are you calling short if you don't mind me asking, just to balance the argument out
 
Dinos said:
Trade what you see, not what somebody predicts, great way to money, not lose money imho
Click to expand...

Couldn't have said it better myself :)

Never let somebody else make you question your calls.
Nomatter what the market does, there's almost always money to be made in either direction.
 
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Hi FW

I second that, I look at the market and check my indys, to whats proably ahead for the day and trade accordingly, I admit I have in the past let others cloud my judgement, and thats the point I'm trying to get across. I'm not questioning anybodies credentials, but it can be harmful, if and people will/do follow blindly.
 
Dinos said:
Hi Mike

You say, you are expecting it to tank still, I'm flat at the minute and don't give a damn which way it goes, so long as I can get on board. I thought you used the hourlys to determine you trading, 4 & 3 Look perhaps to be bottoming out and 2 nearly , there, on many of these occassions, I have seen you call long positions, based on what are you calling short if you don't mind me asking, just to balance the argument out
Click to expand...

Likewise here with respect to which way it goes by I feel there is a lot of fear in the market. A LOT OF FEAR. I can't see what good news will take this market up.

On the 1 hour I have MACD and Stochastics over extended and price moving sideways.
On the daily and weeklies it's on a major support line. Hence the big battle taking place. We hit your 440 support level yesterday. It will try it again.

Another .25% cut in rates knocking the dollar coupled with rising oil and banking crises no good outcome at all.

China talking about slowing growth and inflationary pressures as well as their market being extended.

My trading at the mo is very instinctive. I look at MAs, MACD and Stochastics coupled with candle sticks and that's it. Trend is down for me and that's whats saved me. It goes up and comes back down.

Not sure if it answers your questions but I posted three charts lastnight and think we have a H&S formation with major pull back due very soon.

Finally, I'm off to the London social gathering tonight to talk more shop and eat some nice food.

Good trading everyone... :D
 
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