Dow 2007

[dc2000]

Well done DC :clap:

it did reach your target eventually today!

as they say "better late than never"

good one!

Cheers Karmit

 

[breadman]

Perhaps not. :whistling

However, I do feel, internally my psychie has changed Firewalker. Honestly. I am now able to trade based on the charts irrespective of what I think. Fundamentals still there but it's the technical charts that drive the entry and exits.

One thing I am considering based on FA is to take a short position out to run until the end of the year. SL @ 14500.

I haven't done it yet but will do. I just want to see the last bit of talk about rate cuts play out and see Fed's decision and then move in.

Cheers to you too and wishing all traders prosperous new year... :clap::clap:

Atilla,

i am also looking to do a 1 year to 3 year short position but i am thinking i will leave it until end of 08 and maybe short 2009, 10 and 11.

 

[Atilla]

Atilla,

i am also looking to do a 1 year to 3 year short position but i am thinking i will leave it until end of 08 and maybe short 2009, 10 and 11.

You probably right Breadman, as the short term economic cycle is approx 4 years give or take a year. Since 2003 the rise has been quite something else given all the bad news. If it does turn I expect the adjustment is likely to be up to three years in it's course.

Do you have any stop loss or targets just out of curiousity ?

 

[breadman]

Atilla,

i am thinking we make a low in the next 8 weeks jan/feb rally into the middle of the year have another correction in the middle of year june/july/aug then make new highs into oct/nov which could be the high, then the bear market to begin.
we need to stay above 12500 or else the bear market has already begun. for 2008 i think the range could be 12750 to 15500. i will be waiting until oct/nov before i take any long term positions.

 

[jkplay]

I have an order to buy £8pp at 13370 with a stop at 12950. This is a big trade for me but I really do feel we have heard all of the bad news from the banks, we have seen the central banks unite and now we have seen a series of rate cuts.

In the short term I think it will be choppy but can't see us falling sub 13000 with all the 'help' the markets seem to be getting, unless something extreme happens. I do think the worst is now behind us.

This is a position I initially plan to hold for around a month with a target price of 14200 and will be moving my stop up 200 points as we hit 13650, 13850 and 14000 respectively.

A purely fundamental trade guy's, i'll keep you posted.

JK

Does that go down as the worst call in history?

 

[N Rothschild]

lol

 

[RPEX]

Good Call.
Could have been worse, like when China decided to buy a stake in Lehman Brothers mid-2008.

 

[TopIQ]

Today, it was possible to go short on a minute chart on a break below 8000. 7902 NOW ... SOOO NICE little profit... Don't you just love them wide range volatile indices...

 

[Slapshot]

Today, it was possible to go short on a minute chart on a break below 8000. 7902 NOW ... SOOO NICE little profit... Don't you just love them wide range volatile indices...

Even in 2007?

 

[MichaelJohnFX]

I have read all your posts for a long time now and have enjoyed the banter and I thought I'd add my 2 pence worth (and take my fair share of flak). My view is that the markets like most gambling are rigged, and to make money you just have to follow the big bucks and pick up a few crumbs.
I believe large finance houses build artificial patterns to build artificial confidence / doubt in the market. The market makers are now in the business of building confidence.
If you look at the Dow 10 day moving average it has been manipulated to just skim 13000 so we are not going south of there (13000) this year. Now the Dow is being held at 13300 / 13400 in order to turn the 20 day moving average above 13200. I am guessing (like everyone else is guessing) that we will come close to 13000 in the next few days. Followed by a rally to touch 13570 ish before year end...
- Anyone else believe in Santa Clause?

Sorry to have to quote this again, but decided to have a little wander ...still very relevant

 

[postman]

Sorry to have to quote this again, but decided to have a little wander ...still very relevant

My very first post on this site!

Ahhh, it brings a tear to my eye.